KBW Believes Comerica Will Deploy Excess Capital

KBW is out with its report on Comerica (NYSE: CMA) after lowering CMA's rating to Market Perform from Outperform.

In a note to clients, KBW writes, "We continue to believe that CMA will be able to deploy its excess capital, as we have already seen from the dividend increase and reauthorization of the buyback, but believe the shares currently warrant a Market Perform rating as there is roughly 11% potential upside to our price target, including the 2% dividend yield."

KBS has a $44 price target on CMA, which closed yesterday at $40.24.