Comerica's (NYSE:CMA) Loan Growth Guidance Should be Conservative

Comerica (NYSE:CMA) is expected to come up with no surprises with its next quarterly report, largely coming in at consensus, and with loan guidance a modest low single digit number.

Barclays said, "We expect CMA to report 4Q10 EPS of $0.31,
which compares to the $0.31 consensus. Our EPS estimate includes an expected $5 million ($0.02) pre-tax charge associated with its October 1 redemption of $500 million in trust preferred securities. This item is embedded in the other expense category...We expect CMA to introduce its initial 2011 guidance on its earnings call, covering items like loan growth, net interest margin, net charge-offs, fee income, and expenses. With respect to its net interest margin outlook, we look for CMA to guide toward stability with where it expects to end 4Q10 (3.30%-3.35%). In terms of loan growth, we think it is likely to remain cautiously optimistic projecting low single-digit period-end growth, as it missed its target in 2010."

Barclays maintains an "Underweight' on Comerica, which closed Tuesday at $41.18, up $0.24, or 0.59 percent. Barclays has a price target of $4 on them.