Commerce Bancshares price target lowered to $51 from $52 at Piper Sandler

Piper Sandler analyst Nathan Race lowered the firm’s price target on Commerce Bancshares to $51 from $52 and keeps a Neutral rating on the shares. While Q3 results were generally solid and Commerce remains better positioned than most peers going forward, Piper prefers a more attractive entry point vs. shares’ current premium valuation, the analyst tells investors in a research note.