UPDATE: Baird Upgrades Comerica (CMA) to Outperform Citing Attractive Entry Point

May 20, 2022 3:25 AM EDT
Get Alerts CMA Hot Sheet
Price: $74.31 -2.43%

Rating Summary:
    16 Buy, 19 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 13 | New: 58
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(Updated - May 20, 2022 6:43 AM EDT)

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.

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Robert W Baird