Recently, shares of Comerica, Inc. (Symbol: CMA) have exceeded the average analyst 12-month target price of $60.75, trading at $61.28 per share. When this occurs, analysts typically face two options: downgrade their recommendation due to valuation, or raise their target price to reflect improved expectations. Changes in target prices can also hinge on recent developments within the company that may have propelled the stock higher. This prompts a critical question for investors: is the current price just a stepping stone to an even higher target, or has it reached a point where it’s wise to consider selling some shares?
Comerica’s average target price is calculated from a pool of 20 analysts covered by Zacks. This average encompasses a range, with some analysts suggesting lower targets—including one forecast at $46.00—while another sees a potential peak of $75.00. The standard deviation stands at $7.447, indicating varying levels of expectation among analysts.
Understanding the average target price offers insight into collective market sentiment, often referred to as the “wisdom of crowds.” With CMA now above the average target price of $60.75 per share, investors have a cue to reevaluate their positions. Below is a detailed table showing the latest analyst ratings for Comerica, Inc.:
| Recent CMA Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 5 | 5 | 5 | 6 |
| Buy ratings: | 3 | 3 | 2 | 2 |
| Hold ratings: | 11 | 13 | 14 | 13 |
| Sell ratings: | 1 | 0 | 0 | 0 |
| Strong sell ratings: | 2 | 2 | 2 | 2 |
| Average rating: | 2.64 | 2.61 | 2.65 | 2.57 |
The average rating displayed in the table uses a scale from 1 to 5, where 1 represents a Strong Buy and 5 indicates a Strong Sell. This analysis utilized data from Zacks Investment Research via Quandl.com. For additional insights, consider reviewing the latest Zacks research report on CMA—available at no cost.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
