Earnings Preview: Comerica

| About: Comerica Inc. (CMA)

Comerica (NYSE:CMA) is expected to report Q3 earnings on Tuesday, October 20 before the market opens, with a conference call scheduled for 8 am ET.


Analysts are looking for EPS of (53c) on revenue of $609.41M. The consensus range is ($1.03)-(26c) for EPS and $582.20M-$675M for revenue, according to First Call.

Analyst Views

Credit Suisse downgraded Comerica to Neutral from Outperform earlier this month, citing valuation and risk from the bank's consumer and construction NPL/NCO book. More generally, the firm thinks that regional banks' return to profitability may be later than many investors believe, while commercial real estate will not reach an inflection point before the second half of 2010. On the other hand, Goldman Sachs upgraded Comerica to Neutral from Sell on October 5, citing moderating consumer credit and expectations for improved Q3 revenues. Meanwhile, J.P. Morgan wrote last month that Comerica's shares were pricing in overly severe tangible book value erosion. The firm said the shares had strong upside potential, and set its target for the stock at $32.

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