CMA Shares At Higher End Of Near-Term Potential, Sterne Agee Reports

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.