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Commerce Bancshares price target raised to $69 from $62 at Wells Fargo

Wells Fargo raised the firm’s price target on Commerce Bancshares (CBSH) to $69 from $62 and keeps an Equal Weight rating on the shares. The firm cites consistently strong execution, with another beat and raise quarter. Fixed asset repricing remains a tailwind, but EPS growth stalls until the second half of 2026, owing limited deposit repricing opportunity, rate cuts, and FNBT acquisition, Wells adds. The premium valuation keeps the firm on the sidelines.

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