Morgan Stanley analyst Manan Gosalia raised the firm’s price target on Comerica (CMA) to $54 from $45 and keeps an Equal Weight rating on the shares. The events in the past week at New York Community Bancorp (NYCB) don’t change the firm’s view that working through CRE will be a long grind for the group, but with weakness accelerating for the next two to three quarters, adds the analyst, who remains In-Line on midcap banks with a skew to defensive names. For the midcap group, the firm is increasing price targets by a median 20% as it rolls its valuation year from 2024 to 2025.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CMA:
- Comerica Inc. Completes $1 Billion Senior Notes Offering
- Argus cuts Comerica to Hold on valuation, potential Fed rate cut delays
- Comerica downgraded to Hold from Buy at Argus
- Comerica price target lowered to $63 from $64 at DA Davidson
- Comerica downgraded to Market Perform from Outperform at Raymond James