UPDATE: Baird Upgrades Comerica (CMA) to Outperform Citing Attractive Entry Point
Get Alerts CMA Hot Sheet
Rating Summary:
11 Buy, 24 Hold, 4 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 9 | Down: 8 | New: 10
Join SI Premium – FREE
Baird analyst David George upgraded Comerica (NYSE: CMA) from Neutral to Outperform with a price target of $85.00.
The analyst comments "Upgrading CMA to Outperform, bank sell-off starting to create opportunities. After banks and the related “rate trade” benefitted from being the fashionable January/ February call, the air has come out of the bank group, and we are finally starting to see some opportunities emerge. We find CMA interesting, not only because it’s inexpensive at ~1.2x TBV (ex-OCI), but also because we believe CMA is one of the best ways to play positive rate optionality with a clean balance sheet and minimal consumer exposure."
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 $72.80 yesterday.
You May Also Be Interested In
- HSBC Upgrades Xinte Energy Co Ltd (1799:HK) to Hold, 'cost cutting efforts likely to keep away from loss making'
- Clean Harbors (CLH) PT Raised to $225 at BMO Capital, 'well-positioned to benefit from the structural demand improvement in its core markets'
- Celcuity Inc (CELC) PT Raised to $24 at Needham
Create E-mail Alert Related Categories
Analyst Comments, Hot Comments, Hot Upgrades, UpgradesRelated Entities
Robert W BairdSign 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!