UPDATE: Raymond James Downgrades Comerica (CMA) to Outperform
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(Updated - April 17, 2019 7:38 AM EDT)
(updated to add analyst comments)
Raymond James analyst Michael Rose downgraded Comerica (NYSE: CMA) from Strong Buy to Outperform with a price target of $87.00 (from $92.00).
- Q1 beat but the revised outlook/guidance drives a reduction in forward EPS estimates
- a more challenging interest rate backdrop and deposit growth/pricing environment posit less conviction
Shares of Comerica closed at $79.39 yesterday.
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