TD Cowen analyst Janet Lee raised the firm's price target on Commerce Bancshares to $54 from $53 and keeps a Hold rating on the shares. The firm said 1Q26 results with FineMark were better than expected, supporting an improved PTPP launchpad into 2026. The setup is improving, as a no-rate cut backdrop benefits its NIM and they now see NIM trending stable to modestly higher.
