CMA Shares At Higher End Of Near-Term Potential, Sterne Agee Reports

Sterne Agee reports that it was cautious on Comerica Incorporated (NYSE: CMA) heading into 3Q10 earnings and became more positive last November (increasing the anticipated trading range +$2 to $36-$42).

“Thematically we like CMA given expected improvement in asset quality and potential leveraging of capital over the next few years,” Sterne Agee writes. “However, absent a change in expectations for meaningfully higher interest rates (to increase the NIM and profitability), we consider the shares are at the higher end of near-term potential.”

Comerica Incorporated currently trades at $41.90.