Comerica To Benefit From Texan Economy, Oppenheimer Reports

Oppenheimer reports that it recently met with three Houston-based commercial banks to discuss banking trends in the Texas market. “The strength and diversity of the state's economy is expected to drive greater lending opportunities, though over the near term it appears organic growth will remain limited and pricing for new loans is extremely competitive,” Oppenheimer writes, noting that M&A activity should accelerate in '11 with the potential for some additional bank failures. “We feel Comerica CMA should benefit from the strength of the Texan economy and the growing demand for C&I loans across their franchise.” Comerica closed Wednesday at $40.24.