Comerica Inc Gets a Buy Rating from Jefferies

By Ryan Adsit

In a report released yesterday, Ken Usdin from Jefferies reiterated a Buy rating on Comerica Inc (NYSE: CMA), with a price target of $81. The company’s shares closed yesterday at $69.09.

According to TipRanks.com, Usdin is a top 100 analyst with an average return of 16.4% and a 69.5% success rate. Usdin covers the Financial sector, focusing on stocks such as Government Properties Income Trust, Old National Bancorp Capital, and Discover Financial Services.

Currently, the analyst consensus on Comerica Inc is Moderate Buy and the average price target is $78, representing a 12.9% upside.

In a report issued on September 7, RBC Capital also reiterated a Buy rating on the stock with a $82 price target.

Based on Comerica Inc’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $792 million and quarterly net profit of $202 million. In comparison, last year the company earned revenue of $725 million and had a net profit of $103 million.

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Comerica, Inc. operates as a financial services company. It operates through the following business segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment engages in the middle market businesses, multinational corporations, and governmental entities by offering various products and services.