DA Davidson analyst Peter Winter last night upgraded Comerica to Buy from Neutral with a price target of $80, up from $78. The company trades at the lowest price-to-earnings valuation in the group, Winter tells investors in a research note. In addition, if the U.S. economy enters a mild recession, investor focus will turn to credit and Comerica has a long track record of best in class credit metrics, says the analyst. He upgraded the shares citing a "compelling" valuation at current levels.
Published first on TheFly
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Read More on CMA:
- Comerica upgraded to Buy from Neutral at DA Davidson
- Comerica price target lowered to $85 from $89 at Morgan Stanley
- Comerica price target lowered to $72 from $77 at Wells Fargo
- Comerica price target lowered to $72 from $80 at JPMorgan
- Comerica downgraded to Market Perform from Outperform at Keefe Bruyette