Comerica price target lowered to $45 from $49 at UBS

UBS analyst Brody Preston lowered the firm’s price target on Comerica to $45 from $49 and keeps a Buy rating on the shares. Comerica’s Q3 results were disappointing, with a provision-driven beat that was overshadowed by expense trends and Q4 guidance that implied OpEx $20M-$25M ahead of consensus, setting up for a 5%-7% PPNR miss to end the year, the analyst tells investors in a research note.