Comerica upgraded to Equal Weight from Underweight at Wells Fargo

Wells Fargo analyst Mike Mayo upgraded Comerica (CMA) to Equal Weight from Underweight with a price target of $73, up from $51 as part of a broader research note on Large-Cap banks. The firm is citing the expected benefit of the U.S. elections driving a “15-year regulatory paradigm shift” and its upward bias to EPS estimates along with anticipated greater flexibility by banks to return and deploy capital and for a bank merger resurgence, the analyst tells investors in a research note. Comerica is one of the banks most oriented toward Commercial and Industrial lending growth, which could be better going forward, while a more favorable backdrop for bank industry consolidation should also benefit its shareholders, the firm adds.