Comerica price target raised to $58 from $50 at Truist

Truist raised the firm’s price target on Comerica to $58 from $50 and keeps a Buy rating on the shares after its Q2 earnings beat. The company’s deposit flows are stabilizing and funding pressures will likely dissipate over the coming quarters, the analyst tells investors in a research note. The firm believes that Comerica cash deployment into loan growth and borrowing paydowns should also help limit sequential net interest income declines in the second half of the year.