Wedbush Starts Comerica (CMA) at Neutral

October 7, 2016 6:50 AM EDT
Get Alerts CMA Hot Sheet
Price: $65.36 +0.34%

Rating Summary:
    12 Buy, 26 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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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."

For an analyst ratings summary and ratings history on Comerica click here. For more ratings news on Comerica click here.

Shares of Comerica closed at $49.20 yesterday.



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