Morgan Stanley downgraded Comerica (CMA) to Underweight from Equal Weight with a price target of $55, down from $63. The firm moved its midcap bank industry view from Attractive to In-line, saying “higher and faster than expected” tariffs raise recession risks, will weigh on loan growth and in-turn, forward earnings and multiples. The group is “cheap,” but weaker for longer loan growth and inverted yield curve limit upside catalysts, the analyst tells investors in a research note.
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