Wells Fargo lowered the firm’s price target on Commerce Bancshares to $50 from $52 and keeps an Equal Weight rating on the shares. Deposit quality remains “top-notch,” but a shrinking balance means no NII inflection until 2Q24, the analyst tells investors in a research note. The firm sees limited valuation expansion in the near-term.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CBSH:
- Commerce Bancshares reports Q3 EPS 96c, consensus 93c
- CBSH Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Commerce Bancshares price target raised to $52 from $51 at Jefferies
- Commerce Bancshares upgraded to Equal Weight from Underweight at Morgan Stanley
- Commerce Financial Advisors joins LPL’s Institution Services Platform
