Analysts Are Increasing Price Targets of These 5 Stocks

In this article, we discuss the 5 stocks receiving price-target hike from analysts. If you want to see more such stocks on the list, go directly to Analysts Are Increasing Price Targets of These 10 Stocks.

5. Comerica Incorporated (NYSE:CMA)

Number of Hedge Fund Holders: 45

DA Davidson raised its price target for Comerica Incorporated (NYSE:CMA) from $80 per share to $82 per share on Friday, January 20, citing its upbeat financial performance for the fourth quarter.

Comerica Incorporated (NYSE:CMA)’s latest earnings were primarily driven by solid net interest income and strong loan growth. The Texas-based financial services company earned $2.58 per share, well above $1.66 per share in the comparable period of 2021. Revenue for the quarter grew 36 percent versus last year to $1.02 billion. Analysts expected Comerica Incorporated (NYSE:CMA) to earn $2.55 per share on revenue of $1.01 billion.

In addition, the company’s net interest income skyrocketed 61 percent to $742 million, while total loans jumped 9.5 percent to $52.38 billion in the quarter. On the downside, total deposits fell 15.6 percent to $71.36 billion.