Comerica price target raised to $55 from $49 at DA Davidson

DA Davidson raised the firm’s price target on Comerica to $55 from $49 and keeps a Buy rating on the shares. The analyst notes that the company’s updated average loan and deposit trends through the end of November saw average loans coming in slightly below guidance and average deposits in-line with guidance. DA Davidson adds however that inflation pressures are waning, driving down rates and lowering the unrealized loss in AOCI, which will lead to “very strong” tangible book value growth for Comerica.