Jefferies Raising Numbers on Comerica (CMA); Core Trends Decent

Jefferies maintains a 'Hold' on Comerica (NYSE: CMA) price target from $31 to $34.

Analyst, Ken Usdin, said, "Core operating trends were decent (loans up, NIM stable, fees better), and credit quality was a standout performer. Lower provision expense drives our estimates up across the board, as '12 moves to $2.60 (from $2.35) and '13 moves to $2.75 (from $2.55). We appreciate the earnings ramp CMA should get from higher interest rates (at some point), but current/next year valuations seem relatively fair at this time."

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 $31.95 yesterday.

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