Wells Fargo raised the firm’s price target on Comerica (CMA) to $51 from $43 and keeps an Underweight rating on the shares. The firm notes Comerica beat on lower provisions and lower expenses, with in-line revenues and weak loan trends. Comerica lowered loan, deposit, and fee guidance, but raised net interest income and reduced the tax rate, leading Wells to increase estimates and target.
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Read More on CMA:
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