Wedbush Starts Comerica (CMA) at Neutral
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Wedbush initiates coverage on Comerica (NYSE: CMA) with a Neutral rating and a price target of $49.00.
Analyst Peter Winter commented, "We believe CMA is fairly valued as it’s trading at a 16% premium to our regional bank peers, the highest P/E multiple in our group. Although profitability (ROE, ROA and efficiency) is below peers, we believe the premium is warranted as CMA is under-earning in this low rate environment, plus we are forecasting above-average EPS growth in 2017 and 2018 with the implementation of its new GEAR Up initiative."
Shares of Comerica closed at $49.20 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rodman & Renshaw Starts Abraxas Petroleum (AXAS) at Buy
- UPDATE: Stifel Starts Xenon Pharmaceuticals (XENE) at Buy
- Imperial Capital Raises Price Target on American Airlines (AAL) Following 3Q EPS Beat
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!