Piper Sandler analyst Nathan Race raised the firm’s price target on Commerce Bancshares (CBSH) to $70 from $66.50 and keeps a Neutral rating on the shares. The firm says that while the company’s Q2 results exceeded expectations and drove its estimates higher due to the higher net interest margin starting point, it appears that net interest income growth will likely slow in the second half of 2025 given some likely non-recurring benefits in Q2, a softer loan pipeline recently and less remaining funding cost leverage.
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