S&P Capital IQ Reiterates its BUY Rating for Comerica, Target Price Raised

October 20 00:00 2011

New York, October 20 (RainbowNewsLine.com) – Analyst Erik Oja of S&P Capital IQ reiterates his BUY rating on Comerica Inc.(NYSE:CMA), while raising his estimates for the company, while raising his estimates for the company.  The target price has been raised from $27 to $30.

Analyst Erik Oja, in a research note published yesterday mentions that the company reported robust results for Q3, driven by higher net interest income. Based on Q3 results and comments from management, the analyst expects the company’s loan portfolio to grow faster than its peers. The analyst also expects the company’s loan and securities portfolios to absorb the low rate environment. The EPS Estimate for 2012 has been raised from $2.33 to $2.41.

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