Piper Sandler has revised its price target for Commerce Bancshares (CBSH, Financial), adjusting it slightly downward from $66.50 to $66 while maintaining a Neutral rating on the stock. Despite this minor adjustment, the firm recognizes the bank's impressive performance in the first quarter, citing stronger-than-expected results across all pre-provision net revenue (PPNR) components.
The adjustment comes despite the lack of significant surprises in the recent management discussion. Piper Sandler continues to regard Commerce Bancshares as a beneficial investment, particularly in the prevailing "risk-off" market climate. This perspective is attributed to the company’s excellent credit profile, diverse revenue streams, commendable profitability, and robust capital reserves.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Commerce Bancshares Inc (CBSH, Financial) is $64.50 with a high estimate of $70.00 and a low estimate of $58.00. The average target implies an upside of 7.46% from the current price of $60.02. More detailed estimate data can be found on the Commerce Bancshares Inc (CBSH) Forecast page.
Based on the consensus recommendation from 7 brokerage firms, Commerce Bancshares Inc's (CBSH, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Commerce Bancshares Inc (CBSH, Financial) in one year is $64.30, suggesting a upside of 7.13% from the current price of $60.02. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Commerce Bancshares Inc (CBSH) Summary page.
