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Downgrade Alert for Comerica (CMA)

By David Diaz

Comerica (NYSE:CMA) was downgraded from Overweight to Equal Weight at Stephens today. The stock closed yesterday at $42.35 on volume of 3.8 million shares, above average daily volume of 2.6 million.

In the past 52 weeks, Comerica share prices have been bracketed by a low of $30.48 and a high of $53.45 and closed yesterday at $42.35, 39% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.2%.

Comerica Incorporated is the holding company for business, individual, and investment banks with operations in the United States, Canada, and Mexico. The Company's subsidiaries provide services such as corporate banking, international finance, treasury management, community banking, private banking, small business and individual lending, investment services, and institutional trust.

Comerica (NYSE:CMA) has potential upside of 9.2% based on a current price of $42.35 and analysts' consensus price target of $46.23. The stock should discover initial support at its 200-day moving average (MA) of $41.48 and subsequent support at its 50-day MA of $36.94.

SmarTrend is tracking the current trend status for Comerica and will alert subscribers who have CMA in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Comerica

Ticker(s): CMA