Morgan Stanley analyst Manan Gosalia lowered the firm’s price target on Comerica to $85 from $89 and keeps an Equal Weight rating on the shares. Gosalia and fellow analyst Betsy Graseck said bank management comments last week show that their thesis for accelerating deposit costs is playing out, but even faster than they’d anticipated, leading them to take down EPS estimates by a median 2% for Q4.
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Read More on CMA:
- Comerica price target lowered to $72 from $77 at Wells Fargo
- 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