Piper Sandler analyst Nathan Race lowered the firm’s price target on Commerce Bancshares (CBSH) to $66 from $66.50 and keeps a Neutral rating on the shares. The firm notes Commerce Bancshares posted strong Q1 results with outperformance across each PPNR component, and no major surprises arose from its management discussion. Piper views Commerce Bancshares as an attractive holding amid the current “risk-off” environment based on its pristine credit profile, enviable revenue diversity, above average profitability profile and superior capital levels.
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