Jefferies analyst David Chiaverini upgraded Comerica (CMA) to Hold from Underperform with a price target of $70, up from $50. The firm cites the company’s “heightened probability” of a strategic takeout for the upgrade. Comerica’s recent developments, including CEO Curt Farmer’s more receptive tone toward a buyout and pressure from a activist investor, have increased the likelihood of a sale, the analyst tells investors in a research note.
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