Comerica price target raised to $58 from $54 at RBC Capital

RBC Capital analyst Jon Arfstrom raised the firm’s price target on Comerica to $58 from $54 and keeps an Outperform rating on the shares after its Q2 earnings beat. The company’s quarterly trends were acceptable with margin pressure driving headwinds, but its other fundamentals are healthy with higher loans, indications that deposits are stabilizing, strong fees, controlled expenses and healthy credit, the analyst tells investors in a research note.