In a report released today, Michael Rose from Raymond James assigned a Buy rating to Comerica (CMA – Research Report), with a price target of $82.00. The company’s shares closed last Wednesday at $68.39.
According to TipRanks.com, Rose is a 4-star analyst with an average return of 6.0% and a 49.2% success rate. Rose covers the Financial sector, focusing on stocks such as Pinnacle Financial Partners, Atlantic Capital Bancshares, and Texas Capital Bancshares.
Comerica has an analyst consensus of Hold, with a price target consensus of $76.91, a 16.2% upside from current levels. In a report issued on July 16, Citigroup also initiated coverage with a Buy rating on the stock.
The company has a one-year high of $79.86 and a one-year low of $34.46. Currently, Comerica has an average volume of 1.39M.
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Comerica, Inc. engages in the provision of financial services. It operates through the following segments: Business Bank, Retail Bank, Wealth Management, Finance, and Other. The Business Bank segment involves in the middle market businesses, multinational corporations, and governmental entities by offering various products and services such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication. The Retail Bank segment includes small business banking and personal financial services, which consist of consumer lending, consumer deposit gathering, and mortgage loan origination. The Wealth Management segment offers fiduciary services, private banking, retirement services, investment management and advisory services, investment banking and brokerage services. The Finance segment comprises corporation’s securities portfolio and asset and liability management activities. The Other category consists of income and expense impact of equity and cash, tax benefits, charges of an unusual or infrequent nature that are not reflective of the normal operations, and miscellaneous other expenses of a corporate nature. The company was founded in 1973 and is headquartered in Dallas, TX.