Commerce Bancshares price target lowered to $65 from $69 at Wells Fargo

Wells Fargo lowered the firm’s price target on Commerce Bancshares (CBSH) to $65 from $69 and keeps an Equal Weight rating on the shares. The firm remains constructive on regional banks, and favors banks where improving fundamentals could drive valuation re-rating higher in the second half of 2025, especially those that also benefit from increased M&A activity.