Summary:
- J.P. Morgan downgrades Comerica (CMA, Financial) to "Underweight" due to growth concerns.
- The bank's Q1 earnings beat expectations, yet loan growth guidance is revised down.
- Analysts foresee a potential 22.95% upside with an average price target of $62.75.
J.P. Morgan has recently adjusted its rating for Comerica (CMA) to an "Underweight" status. This decision stems from reservations about the bank's ability to grow, despite the fact that Comerica's Q1 earnings exceeded expectations. The bank has also lowered its projections for loan growth, expressing doubt over future improvements amid existing macroeconomic uncertainties and challenges within the commercial real estate sector.
Wall Street Analysts Forecast
According to projections from 19 analysts, Comerica Inc (CMA, Financial) is expected to reach an average price target of $62.75 over the next year. This target carries a high estimate of $80.00 and a low estimate of $55.00, suggesting a potential upside of 22.95% from its current market price of $51.04. For a more detailed analysis, visit the Comerica Inc (CMA) Forecast page.
Furthermore, a consensus from 22 brokerage firms rates Comerica Inc (CMA, Financial) at an average of 2.9, indicating a "Hold" status within a rating scale where 1 signifies a Strong Buy and 5 denotes a Sell. This demonstrates a neutral stance from analysts regarding the stock's immediate investment appeal.
GuruFocus provides an estimated GF Value for Comerica Inc (CMA, Financial) at $60.06, reflecting a projected upside of 17.67% relative to the current price of $51.04. The GF Value is calculated based on historical trading multiples and anticipated future business performance. For more in-depth insights, refer to the Comerica Inc (CMA) Summary page.
