Comerica Inc. (CMA) shares soar 9.28% after Prudential Financial Inc. cuts holdings 82.9%

Comerica Inc. (CMA) shares surged by 9.28% today, marking a significant rebound after the stock price plummeted to its lowest level since June 2024, with an intraday decline of 4.56%.

One of the key factors influencing Comerica's stock price is Prudential Financial Inc.'s decision to significantly reduce its holdings in the company by 82.9% in the fourth quarter. This substantial reduction in institutional holdings can sway investor sentiment and potentially impact the stock price.

Additionally, Raymond James recently adjusted its target price for Comerica from $72.00 to $67.00, while maintaining an "outperform" rating. Such adjustments by analysts can affect investor expectations and influence the stock's performance.

Despite these challenges, Comerica is noted for having a 32.25% upside to its average analyst target price of $67.74, according to DVAL ETF analysis. This perceived upside potential can attract investor interest and positively influence the stock price.