Wells Fargo analyst Mike Mayo lowered the firm’s price target on Comerica to $72 from $77 and keeps an Underweight rating on the shares. The analyst also lowered Q4 EPS by 1c to $2.56 to reflect guidance for additional tech spend, increasing 2023 by 20c to $10.45 to reflect lower provisions, but lowering 2024 by 75c to $10.10 to reflect slower future net interest income growth and ongoing expense growth.
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Published first on TheFly
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Read More on CMA:
- Comerica price target lowered to $72 from $80 at JPMorgan
- Comerica downgraded to Market Perform from Outperform at Keefe Bruyette
- Comerica price target lowered to $80 from $90 at Citi
- Comerica initiated with an Equal Weight at Morgan Stanley
- Comerica price target raised to $80 from $79 at Wolfe Research