Comerica Slashed to “Underperform” at Keefe, Bruyette & Woods (CMA)

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Regional banker Comerica Incorporated ( CMA ) on Thursday caught a big downgrade from analysts at Keefe, Bruyette & Woods.

The firm cut its rating on CMA from "Market Perform" to "Underperform" and lowered its price target from $29 to $28. That new target suggests a small downside to the stock's Wednesday closing price of $29.27.

Keefe, Bruyette & Woods noted that Wall Street's earnings estimates for the company are likely to high, given its asset-sensitive business model.


Comerica shares were mostly flat in premarket trading Thursday. The stock has risen more than 13% year-to-date.

The Bottom Line
Shares of Comerica ( CMA ) have a 2.05% dividend yield, based on last night's closing stock price of $29.27. The stock has technical support in the $26 price area. If the shares can firm up, we see overhead resistance around the $31-$33 price levels.

Comerica Incorporated ( CMA ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: CMA

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