Morgan Keegan Maintains Market Perform On CMA

Morgan Keegan has issued a report reiterating the Market Perform Rating on Comerica Incorporated CMA. According to the report, "CMA reported $0.55 in 2Q11 EPS (ex $0.02 in merger expenses), versus our $0.47 and consensus $0.53 estimates. Beat was driven by better expense control (+$0.08), higher securities gains and other income (+$0.04), and lower provisioning (+$0.01), partially offset by a higher tax rate (-$0.05) due to a tax settlement." CMA has a $38 Price Target and closed at $32.48 a share yesterday.