Comerica (CMA) EPS Headed in the Right Direction - Jefferies
Jefferies analyst Ken Usdin bumped estimates and its price target on Comerica (NYSE: CMA) from $41 to $42 following Q2 results but maintained a Hold rating.
He comments, "Interest income trends remain challenged, but better credit quality and solid expense mgmt. continue to lead to modest positive EPS revisions. We increase our '13 and '14 ests. to $2.90 (from $2.80) and $2.95 (from $2.85), respectively, on lower provision expense. We remain at Hold, as shares seem to be discounting longer-term earnings power ($4.10 EPS potential in '16 w/ higher rates) to a good extent 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 $40.86 yesterday, with a 52 week range of $27.72-$43.00.
He comments, "Interest income trends remain challenged, but better credit quality and solid expense mgmt. continue to lead to modest positive EPS revisions. We increase our '13 and '14 ests. to $2.90 (from $2.80) and $2.95 (from $2.85), respectively, on lower provision expense. We remain at Hold, as shares seem to be discounting longer-term earnings power ($4.10 EPS potential in '16 w/ higher rates) to a good extent 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 $40.86 yesterday, with a 52 week range of $27.72-$43.00.