Comerica price target lowered to $44 from $52 at BofA

BofA analyst Ebrahim Poonawala lowered the firm’s price target on Comerica to $44 from $52 and keeps a Neutral rating on the shares as part of a broader research note on U.S. Banks. Worsening revenue trends that include slowing loan growth, declining net interest margins, and tempered fees are widely expected, the analyst tells investors in a research note. Rising interest rates also continue to widen mark-to-market losses on bond books, and as asset quality worsens, it should begin to “matter more” as investors brace for a credit cycle, the firm added.