Morgan Stanley Maintains Equal-Weight on Commerce Bancshares, Lowers Price Target to $46.67
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Manan Gosalia has maintained an Equal-Weight rating on Commerce Bancshares (NASDAQ:CBSH) and reduced the price target from $49 to $46.67.
December 01, 2023 | 1:53 pm
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NEGATIVE IMPACT
Morgan Stanley has maintained an Equal-Weight rating on Commerce Bancshares but lowered the price target from $49 to $46.67, indicating a potential downside based on the analyst's view.
The reduction in price target by a prominent financial institution like Morgan Stanley can influence investor sentiment and potentially lead to a short-term decrease in the stock price of Commerce Bancshares. The Equal-Weight rating suggests that the analyst views the stock as fairly valued at its current price, but the lowered target indicates a belief that the stock may not have as much upside potential as previously thought.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100