Baird has revised its outlook on Comerica (CMA, Financial), lowering the price target from $80 to $75. Despite this adjustment, the firm maintains an Outperform rating on the stock.
The decision follows an update to Baird's model after Comerica's Q1 results were released. These results indicated that while pre-provision net revenue (PPNR) trends remain stable, there are concerns due to revenue falling short of expectations, leading to the stock's underperformance.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 19 analysts, the average target price for Comerica Inc (CMA, Financial) is $62.75 with a high estimate of $80.00 and a low estimate of $55.00. The average target implies an upside of 24.02% from the current price of $50.60. More detailed estimate data can be found on the Comerica Inc (CMA) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, Comerica Inc's (CMA, Financial) average brokerage recommendation is currently 2.9, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Comerica Inc (CMA, Financial) in one year is $60.06, suggesting a upside of 18.7% from the current price of $50.6. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Comerica Inc (CMA) Summary page.
