Comerica initiated with a Hold at Deutsche Bank

Deutsche Bank analyst Bernard von-Gizycki initiated coverage of Comerica with a Hold rating and $59 price target. Comerica has made significant progress reducing overall funding costs and has continued to make investments across the business, the analyst tells investors in a research note. The firm’s Hold rating rating reflects a cautious view on the overall bank group, as well as a drag from a “higher-for-longer” interest rate environment impacting net interest income.