U.S. stocks lower as investors rotate out of tech ahead of Jackson Hole
Investing.com - Piper Sandler has reiterated its Neutral rating and $65.00 price target on Comerica (NYSE:CMA), currently trading at $67.89 with a market capitalization of $8.7 billion, following meetings between the bank’s senior management and institutional investors. According to InvestingPro data, 15 analysts have recently revised their earnings expectations downward for the upcoming period.
The meetings, which had been planned for several months, gained additional significance in light of pointed questions during Comerica’s second-quarter earnings call and subsequent activist investor revelations.
Piper Sandler noted that while Comerica’s management is "sensitive to these newly vocal concerns and takes them seriously," the company does not intend to alter its strategic direction solely to address near-term issues that could prove temporary.
According to Piper Sandler’s analysis, Comerica’s management sees "meaningful revenue tailwinds emerging" that should help correct the bank’s current revenue/expense mismatch, ultimately improving profitability and efficiency.
The research firm also highlighted that Comerica’s "solid capital base should offer some flexibility," and suggested that any further tactical changes would likely be disclosed in a public forum such as a mid-quarter update.
In other recent news, Comerica has been the subject of multiple significant developments. Jefferies upgraded Comerica’s stock rating from Underperform to Hold, citing an increased probability of a strategic acquisition. This comes as HoldCo Asset Management released a report urging Comerica’s board to consider a sale. Meanwhile, UBS maintained its Neutral rating on Comerica, highlighting strong pre-provision net revenue and lower-than-expected expenses, despite concerns over expenses. Keefe, Bruyette & Woods raised its price target for Comerica to $73, identifying it as a "deep-value opportunity" due to its low valuation compared to peers. Comerica also announced a quarterly dividend of $0.71 per share, payable on October 1, 2025, to shareholders of record as of September 15, 2025. These developments reflect ongoing strategic discussions and financial performance evaluations that could impact the company’s future direction.
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