Equity Analysis /
United States of America

US : Comerica Inc. - CMA | 4Q20 Follow-Up: Reit. Outperform; Increasing Estimates, PT to $72

    Contributors
    Joseph Yanchunis
    Carl-Harry Doirin
    CGS-CIMB
    19 January 2021
    Published byCGS-CIMB

    We reiterate our Outperform rating on CMA shares and are increasing our price target to $72 following 4Q20 results that exceeded our forecasts/consensus on both an EPS and pre-tax, pre-provision income (PTPPI) basis. While a net reserve release fueled the upside, revenue (both net interest income a