It may be time to buy Comerica after its recent stock underperformance, according to Raymond James.
Analyst Michael Rose upgraded shares to outperform from market perform. The analyst also has a price target of $85 per share on the financial services stock, which represents upside of roughly 21.6% from Friday's close of $69.
19, after the company posted its third-quarter results and when management suggested a sooner-than-expected peak in net interest income and net interest margins . Net interest income is the difference a bank earns between its income from lending activities and the interest it pays customers. Still, the stock is a buy at current levels, as it is underperforming its peers, and could bolster portfolios when the Federal Reserve pivots from its aggressive rate hiking path, according to the analyst.
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