Barclays Maintains an 'Equalweight' on CIBC (CM); Solid Retail Performance
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Price: $121.66 -1.45%
Rating Summary:
3 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 13 | New: 26
Rating Summary:
3 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 13 | New: 26
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Barclays maintains an 'Equalweight' on CIBC (NYSE: CM) price target of CD77.00 (from CD76.00).
Analyst, John Aiken, said, "CIBC managed to generate solid earnings on the back of a strong contribution from domestic retail. While loan growth was essentially flat, as it transitions away from the mortgage broker channel, it did manage to increase its net interest margin and generate modest incremental operating leverage."
CIBC is executing on the plan it laid out to investors. Now, not overly exciting, if the company continue to execute, it could ultimately be recognized with a new profile. All in, Aiken, said at this point, he wouldn't consider re-rating the stock.
FY12 EPS estimate raised from $7.85 to $8.07 (consensus is $7.90) and FY13 from $8.14 to $8.38 (consensus is $8.33).
For an analyst ratings summary and ratings history on CIBC click here. For more ratings news on CIBC click here.
Shares of CIBC closed at $75.90 yesterday.
Analyst, John Aiken, said, "CIBC managed to generate solid earnings on the back of a strong contribution from domestic retail. While loan growth was essentially flat, as it transitions away from the mortgage broker channel, it did manage to increase its net interest margin and generate modest incremental operating leverage."
CIBC is executing on the plan it laid out to investors. Now, not overly exciting, if the company continue to execute, it could ultimately be recognized with a new profile. All in, Aiken, said at this point, he wouldn't consider re-rating the stock.
FY12 EPS estimate raised from $7.85 to $8.07 (consensus is $7.90) and FY13 from $8.14 to $8.38 (consensus is $8.33).
For an analyst ratings summary and ratings history on CIBC click here. For more ratings news on CIBC click here.
Shares of CIBC closed at $75.90 yesterday.
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