Comerica reports Q2 EPS 80c, consensus 76c Reports Q2 Tier 1 common capital ratio 10.49. Reports Q2 Basel III common equity Tier 1 capital ratio of 10.2%. Reports Q2 common shareholders' equity per share $40.72. Reports Q2 net-charge offs $9M, or 0.08% of average loans.
Comerica downgraded to Hold from Buy at Rafferty Capital Rafferty downgraded Comerica to Hold based on concerns the company will not be able to maintain its net interest income combined with operating expenses over the next few quarters. Price target lowered to$48 from $59. Note that Bernstein, Nomura, and Sandler O'Neill upgraded shares this morning.
Comerica upgraded to Buy from Hold at Sandler O'Neill Sandler O'Neill upgraded Comerica to Buy with a $49 price target due to valuation and increased confidence in cost controls. Note this is the third upgrade of the day.
Comerica upgraded to Neutral from Reduce at Nomura Nomura upgraded Comerica to Neutral based on reasonable valuation. Price target lowered to $41 from $42. Note that Bernstein upgraded shares to Market Perform this morning.