Comerica price target lowered to $78 from $83 at Truist

Truist analyst Jennifer Demba lowered the firm’s price target on Comerica to $78 from $83 but keeps a Buy rating on the shares after its Q4 results. The company’s loan growth has been robust and broad based in 2022, though it should slow down to a mid single digit annualized pace over the next few quarters with a slower economy, and mortgage banker loan demand should be a headwind, the analyst tells investors in a research note. Demba adds however that Comerica’s credit quality trends remain pristine and should stand out with lower than peer loan losses in a more stressed environment.