Raymond James Upgrades Comerica, Anticipating 18% Growth and Bullish Outlook

Raymond James has upgraded Comerica (CMA) from Market Perform to Outperform. Analysts' average one-year price target of $59.81 suggests a 17.73% upside from the current $50.80 share price. The firm projects a 22.49% revenue increase and a non-GAAP EPS of 10.17. Institutional ownership has decreased, with a slight bullish sentiment from the put/call ratio. Key holders like Charles Schwab and Invesco have increased their positions, while Vanguard and Invesco have reduced theirs.

Raymond James, a prominent financial services firm, has recently upgraded Comerica Incorporated (CMA) from a Market Perform to an Outperform rating. This positive shift comes accompanied by a higher price target of $60, suggesting a potential 17.73% increase from the current share price of $50.80 [1][2].

The upgrade stems from Raymond James' optimistic forecast for Comerica's financial performance. They project a significant 22.49% revenue increase and a non-GAAP EPS of 10.17 for the company. This growth potential has piqued the interest of institutional investors, who have shown a slightly increased ownership in Comerica [1].

Notable investors such as Charles Schwab and Invesco have bolstered their positions in Comerica, further indicating their confidence in the company's future prospects. Conversely, Vanguard and Invesco have reduced their holdings, suggesting a more cautious approach. The put/call ratio, an indicator of market sentiment, shows a slight bullish bias, further supporting the upgraded outlook [1].

According to Fintel, Raymond James' upgrade goes a step further, with the firm now designating Comerica as a Strong Buy [3]. The average one-year price target for Comerica stands at $70.34, signaling a potential 76.19% upside from its current share price. This significant growth potential underscores the confidence that Raymond James holds in Comerica's financial future.

In summary, Raymond James' upgrade of Comerica from Market Perform to Outperform, coupled with their revised price target and positive financial projections, indicates a bullish outlook for the company. Institutional ownership trends and market sentiment, as evidenced by the put/call ratio, further support this optimistic view.

[1] https://www.marketscreener.com/quote/stock/COMERICA-INCORPORATED-12105/news/Raymond-James-Upgrades-Comerica-to-Outperform-From-Market-Perform-Price-Target-is-60-47285104/
[2] https://news.futunn.com/en/post/44492341/raymond-james-upgrades-comerica-to-outperform-announces-60-price-target
[3] https://www.nasdaq.com/articles/raymond-james-upgrades-comerica-cma