Commerce Bancshares price target lowered to $60 from $70 at Wells Fargo

Wells Fargo lowered the firm’s price target on Commerce Bancshares (CBSH) to $60 from $70 and keeps an Equal Weight rating on the shares. While long-term uncertainty has certainly increased, the recent pullback in the space presents a near-term opportunity as EPS results remain steady, credit is still okay, and expectations are once again really low.