JPMorgan raised the firm’s price target on Comerica (CMA) to $73 from $70 and keeps a Neutral rating on the shares as part of a 2025 outlook for the mid- and small-cap banks. The firm remains “very encouraged” on the direction of regional banks heading into 2025. Optimism for the group is not only driven by the likelihood of improving fundamentals next year in areas such as loan growth, deposit growth, and net interest margin expansion, but also tied to the fact that “dozens of generalists and long only investors that we have spoken to since the election are showing increasing interest in the group but have not yet pulled the buy trigger en masse,” the analyst tells investors in a research note.
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Read More on CMA:
- Comerica price target raised to $80 from $64 at Compass Point
- Comerica sees Q4 NII in line with prior guidance of up 6%
- Comerica to Present at Goldman Sachs Conference
- Vishay to replace Comerica in S&P 600 at open on 12/23
- Comerica to replace Vishay in S&P 400 at open on 12/23
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
