CMA - Comerica Texas Capital Bancshares upgraded to Buy at Truist
Truist analyst Jennifer Demba upgrades Comerica (CMA) and Texas Capital Bancshares (TCBI) to Buy from Hold as she takes a more positive stance on banks that are poised to benefit from higher Fed funds rate.The analyst expects the Federal Reserve to start raising rates no later than mid-2022 "as the economy recovers rapidly following broader virus vaccinations, more workers returning to their offices, more travel & loosening social distancing restrictions."She also notes that TCBI's new CEO is developing a more deposit-focused plan that encourages more accountability.The Buy rating on CMA contrasts with the Neutral Quant rating and the average Wall Street rating of Neutral (5 Very Bullish, 2 Bullish, 10 Neutral, 4 Bearish, 3 Very Bearish).TCBI's Quant rating is also Neutral as is its average Wall Street analyst rating (2 Very Bullish, 1 Bullish, 10 Neutral, 1 Bearish).
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Comerica, Texas Capital Bancshares upgraded to Buy at Truist