Comerica “neutral,” target price raised

12/19/03 - Robert W. Baird

NEW YORK, December 19 (New Ratings) – Analysts at Robert W Baird reiterate their “neutral” rating on Comerica Inc (CMA). The target price has been raised from $47 to $53.

In a research note published yesterday, the analysts mention that the company would witness a rise in commercial loan demand during 2004, due to the recovering US economy. Comerica's stock price appreciated recently, on account of investor speculation regarding the company’s merger & acquisition activities, the analysts say. According to Robert W Baird, the company's stock is overvalued as compared to that of its peers.