Jefferies Raises Numbers On Commerce Bancshares (CBSH)

Jefferies raised its price target on Commerce Bancshares (NASDAQ: CBSH) from $40 to $41, but kept its Hold rating.

The firm comments, "While the quarter exhibited continued margin pressure and higher than expected expenses, future earnings run-rates should hold in reasonably well as forward securities purchases act as a tailwind for interest income into 2012, and a good portion of higher than expected expenses roll-off. We are taking our 2012 EPS estimate to $2.90 (from $2.80), 2013 remains at $3.00. Our price target goes to $41 (from $40)."

For an analyst ratings summary and ratings history on Commerce Bancshares click here. For more ratings news on Commerce Bancshares click here.

Shares of Commerce Bancshares closed at $40.14 yesterday.

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