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Stock Update: Comerica Incorporated (NYSE:CMA)

Stock Update: Comerica Incorporated (NYSE:CMA)
Written by
Joel Najarian
Published on
October 15, 2014
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[PRNewswire] Comerica Incorporated (NYSE:CMA) has been recognized as a leader among S&P 500 companies by environmental non-profit CDP for its actions to reduce carbon emissions and mitigate the business risks of climate change. This is the second consecutive year Comerica has achieved a position in the CDP S&P 500 Climate Performance Leadership Index (CPLI). In addition to the inclusion in the CPLI, Comerica has previously achieved four listings in CDP's S&P 500 Climate Disclosure Leadership Index.Stock PerformanceTaking a look at the company’s recent performance, Comerica Incorporated (CMA) reported second quarter earnings for fiscal 2014 on August 15th. The company reported actual earnings per share of $0.80 against the consensus Street estimate of $0.76. This represents year over year growth of 5.26%.Comerica Incorporated is currently valued at $8.02 billion and closed the last trading session at $45.90. The stock has a 50-day moving average of $50.33 and a 200-day moving average of $49.62.

Is this a Buying Opportunity?There are currently twenty three analysts that we track that cover the stock. Of those twenty three, seven have a Buy rating, thirteen have a hold rating and three have a Sell rating. On a consensus basis this yields a score of 2.17 and a Hold. The combined price objective of these covering analysts is $51.14, which represents a 3.85% difference to the last closing price.The most recent analyst activity consisted of Wunderlich upgrading their Hold stance on the company. Wunderlich has a price target of $65 which represents an upside of 32.32% from the last closing price. On the date of the report, the stock closed at $50.24.Another research firm weighing in recently was Susquehanna who also upgraded their rating on the stock. On August 5th,Susquehanna boosted their price target on the stock from $39 to $49, or a 0.24% downside to the current price. On the day of the report, CMA shares closed at $48.77.Company ProfileComerica Incorporated (CMA) through its subsidiaries, provides financial products and services. The company operates in three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services to middle market businesses, multinational corporations, and governmental entities. The Retail Bank segment provides small business banking and personal financial services consisting of consumer lending, consumer deposit gathering, and mortgage loan origination.

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