Boston, MA 03/24/2014 (wallstreetpr) – Comerica Incorporated (NYSE:CMA) is a financial services company operating three business segments. Shares of the company rose 0.81 percent to $52.37 Friday on solid share volume. The Friday session saw the stock hitting a new 52-week high at $53.50. Last week’s positive rally on the stock marked the continuing uptrend that has been witnessed in the stock of late.
The stock has breached important price barriers and is up more than 7 percent in the past 12-week time-frame. Thus, there is no doubt that CMA has had a decent price momentum already. So then, investors may wonder if rally is done and finished in Comerica Incorporated (NYSE:CMA), and if that is so, then perhaps a pullback is overdue.
Well, in order to understand Comerica Incorporated, a look into the recent earnings estimate adjustments and analysts recommendations can help put things into perspective.
Earnings estimate revisions
Comerica Incorporated (NYSE:CMA) has experienced pretty positive adjustments in its earnings estimates in the past two months. Thus, this suggests the growing optimism in the stock among analysts. In the past two-month duration, the stock witnessed nine positive earnings revisions with no downward revision being experienced over the same duration. And over the same duration, consensus earnings estimate has also leaped higher.
Analyst sentiments
Analysts are bullish on Comerica Incorporated (NYSE:CMA). At Zacks for instance, the stock carries a “buy” recommendation. And many other analysts have been positive about the prospects and price target for the stock.
Takeaway
All said and done, it is clear that earnings estimates suggest more room for the stock to continue going up. As such, even though a nice run has already been noted in Comerica Incorporated (NYSE:CMA), more is still to come.
Investors can therefore feel free to buy the stock with eyes set on more price jump in the near term. Following the past several weeks of gains, the stock now stands a far cry from its 52-week low of $33.55.
