Comerica (CMA) EPS Headed in the Right Direction - Jefferies
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Price: $88.67 --0%
Rating Summary:
6 Buy, 28 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 10 | New: 23
Rating Summary:
6 Buy, 28 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 10 | New: 23
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Jefferies analyst Ken Usdin bumped estimates and its price target on Comerica (NYSE: CMA) from $41 to $42 following Q2 results but maintained a Hold rating.
He comments, "Interest income trends remain challenged, but better credit quality and solid expense mgmt. continue to lead to modest positive EPS revisions. We increase our '13 and '14 ests. to $2.90 (from $2.80) and $2.95 (from $2.85), respectively, on lower provision expense. We remain at Hold, as shares seem to be discounting longer-term earnings power ($4.10 EPS potential in '16 w/ higher rates) to a good extent at this time."
For an analyst ratings summary and ratings history on Comerica click here. For more ratings news on Comerica click here.
Shares of Comerica closed at $40.86 yesterday.
He comments, "Interest income trends remain challenged, but better credit quality and solid expense mgmt. continue to lead to modest positive EPS revisions. We increase our '13 and '14 ests. to $2.90 (from $2.80) and $2.95 (from $2.85), respectively, on lower provision expense. We remain at Hold, as shares seem to be discounting longer-term earnings power ($4.10 EPS potential in '16 w/ higher rates) to a good extent at this time."
For an analyst ratings summary and ratings history on Comerica click here. For more ratings news on Comerica click here.
Shares of Comerica closed at $40.86 yesterday.
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