Barclays lowered the firm’s price target on CIBC to C$57 from C$58 and keeps an Equal Weight rating on the shares post the Q3 report. Higher than forecast provisions generated an earnings miss, but operational improvements and a higher regulatory capital ratio “attempt to balance out the ledger,” the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CM:
- CIBC Stock (TSE:CM): A Bargain after Its Q3 Earnings Tumble
- Canadian Bank Earnings Roundup — Which Bank Performed Best?
- CIBC Stock (TSE:CM) Falls after Wide Q3 Earnings Miss
- CIBC reports Q3 adjusted EPS C$1.52 vs. C$1.85 last year
- Canadian Imperial Bank Of Commerce (CM) Q3 Earnings Cheat Sheet
Questions or Comments about the article? Write to editor@tipranks.com