Comerica Analysts Boost Their Forecasts After Better-Than-Expected Earnings

Core Insights - Comerica CMA reported adjusted earnings of $1.37 per share, exceeding market expectations of $1.16 per share [1] - Quarterly sales reached $81,000 million, compared to expectations of $811,617 million [1] - Following the earnings announcement, Comerica shares fell by 3.9% to $62.41 [1] Analyst Ratings and Price Targets - Barclays analyst Jason Goldberg maintained an Underweight rating and raised the price target from $56 to $66 [2] - JP Morgan analyst Anthony Elian maintained a Neutral rating and increased the price target from $65 to $70 [2] - Stephens & Co. analyst Terry McEvoy maintained an Overweight rating and boosted the price target from $64 to $70 [2] - Wells Fargo analyst Mike Mayo maintained an Underweight rating and raised the price target from $43 to $51 [2] - Truist Securities analyst Brandon King maintained a Hold rating and lifted the price target from $66 to $70 [2] - DA Davidson analyst Peter Winter maintained a Neutral rating and increased the price target from $64 to $68 [2] - Morgan Stanley analyst Manan Gosalia maintained an Equal-Weight rating and raised the price target from $63 to $67 [2] Consensus and Analyst Opinions - The consensus price target for Comerica Inc is $60.44 based on ratings from 26 analysts [3] - The highest price target is $75 issued by Wedbush on September 24, 2024, while the lowest is $43 from Truist Securities on October 23, 2023 [3] - Recent analyst ratings from Morgan Stanley, DA Davidson, and Truist Securities suggest an average price target of $68.33, indicating an implied upside of 9.12% for Comerica Inc [3] Analyst Trends - The analyst rating distribution shows a mix of Hold, Buy, and Underweight ratings, with a notable number of Hold ratings in recent months [4]