DA Davidson analyst Peter Winter lowered the firm’s price target on Comerica to $63 from $64 and keeps a Buy rating on the shares after its Q4 results. The company’s balance sheet has “turned liability sensitive”, though its net interest income guidance of down 11% in 2024 is using the forward curve as of 12/31, which is incorporating six rate cuts, the analyst tells investors in a research note. Fewer rate cuts would put some pressure on Comerica’s net interest income outlook, the firm added.
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