These Analysts Revise Their Forecasts On Comerica After Q2 Results
Portfolio Pulse from Avi Kapoor
Comerica Incorporated (NYSE:CMA) reported better-than-expected Q2 results with earnings of $1.53 per share and sales of $824 million. Despite the positive results, analysts revised their price targets and ratings. Truist Securities downgraded the stock from Buy to Hold, Barclays maintained an Underweight rating but cut the price target, and Piper Sandler maintained a Neutral rating while slightly increasing the price target.
July 22, 2024 | 1:34 pm
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Comerica reported better-than-expected Q2 earnings and sales. Despite this, analysts revised their ratings and price targets. Truist downgraded the stock from Buy to Hold and reduced the price target to $53. Barclays maintained an Underweight rating but cut the price target to $56. Piper Sandler maintained a Neutral rating and slightly increased the price target to $52.
While Comerica's Q2 results were better than expected, the mixed analyst reactions with downgrades and target cuts suggest a neutral short-term impact on the stock price. The positive earnings are offset by cautious analyst outlooks.
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