Keefe, Bruyette & Woods Downgrades Commerce Bancshares (CBSH) to Underperform

Keefe, Bruyette & Woods downgraded Commerce Bancshares (NASDAQ: CBSH) from Market Perform to Underperform, price target lowered to $37.00.

KBW analyst says, "In conjunction with our new economic baseline and our outlook for a prolonged flattening yield curve, we are lowering the rating of CBSH to Underperform. Our downgrade is based on valuation and elevated risk to earnings owing to the flatter yield curve. In addition, we are lowering estimates and our price target."

For more ratings news on Commerce Bancshares click here and for the rating history of Commerce Bancshares click here.

Shares of Commerce Bancshares closed at $37.15 yesterday.

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