Sterne Agee reports that it was cautious on Comerica Incorporated CMA heading into 3Q10 earnings and became more positive last November (increasing the anticipated trading range +$2 to $36-$42).
“Thematically we like CMA given expected improvement in asset quality and potential leveraging of capital over the next few years,” Sterne Agee writes. “However, absent a change in expectations for meaningfully higher interest rates (to increase the NIM and profitability), we consider the shares are at the higher end of near-term potential.”
Comerica Incorporated currently trades at $41.90.
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