Comerica price target lowered to $68 from $72 at Baird

Baird analyst David George lowered the firm’s price target on Comerica to $68 from $72 and keeps an Outperform rating on the shares. The firm believes the company has managed through this environment well by running its balance sheet for economics, running down low-return assets in order to improve profitability and it should be returned to shareholders at current prices, as buybacks would generate a higher IRR than the company’s current ROE.