JPMorgan analyst Steven Alexopoulos lowered the firm’s price target on Comerica to $72 from $80 and keeps an Overweight rating on the shares. Heading into 2023, the analyst remains bearish on regional bank stocks and sees the sector as being "particularly vulnerable" to significant negative earnings revisions over the next several quarters. With the two earnings "needle movers" for regional banks being net interest margins and credit quality, Alexopoulos sees each of these risk factors as being skewed to the downside in terms of earnings impacts.
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Published first on TheFly
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Read More on CMA:
- 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
- Comerica Declares Common and Preferred Stock Dividends