Comerica price target lowered to $80 from $90 at Citi

Citi analyst Keith Horowitz lowered the firm’s price target on Comerica to $80 from $90 and keeps a Buy rating on the shares. Comerica provided its mid-quarter update, and the stock underperformed, Horowitz tells investors in a research note. The analyst says that while the Q4 guidance is unchanged for net interest income and deposits, the DDA mix shift was more than expected which negatively impacts his 2023 and 2024 estimates by $1.