Wed Sep 25 07:22:57 UTC 2024: ## Comerica Stock Upgraded to “Outperform” by Wedbush

**New York, NY** – Comerica Incorporated (NYSE: CMA) received an upgrade to “Outperform” from Wedbush Securities on Tuesday, according to a research report sent to investors. Wedbush also set a price target of $75.00 for the stock, significantly higher than their previous target of $52.00.

This upgrade follows a mixed bag of ratings from other analysts. Raymond James upgraded Comerica to “Outperform” in July, while Barclays downgraded the stock to “Underweight.” Goldman Sachs and JPMorgan Chase & Co. have also recently adjusted their price targets and ratings.

Despite the varied opinions, Comerica’s recent earnings report showed strong performance. The company surpassed analysts’ expectations in the second quarter, reporting earnings per share of $1.49 compared to an estimated $1.19. Revenue also exceeded projections, reaching $1.26 billion against an expected $812.79 million.

Comerica also announced a quarterly dividend of $0.71 per share, payable on October 1st. The company’s payout ratio is currently 56.46%.

Insider trading activity has also been noteworthy, with EVP Christine M. Moore selling 2,545 shares of the company’s stock in August. Institutional investors continue to show interest in Comerica, with several funds increasing their holdings in recent quarters.

Overall, Comerica’s recent performance and Wedbush’s upgrade suggest a positive outlook for the company. However, investors should consider the differing opinions of other analysts and carefully evaluate the company’s future prospects before making investment decisions.

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