Barclays Maintains an 'Overweight' on CIBC (CM); Q2 Review
Tweet
Share
E-mailGet Alerts CM Hot Sheet
Price: $123.14 +0.60%
Rating Summary:
3 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Barclays maintains an 'Overweight' on CIBC (NYSE: CM) price target raised from CAD$78 to CAD$79.
Analyst, John Aiken, said, "CIBC generated another solid quarter on the back of continued strong cost containment. However, the market appears unwilling to give it full credit for this outperformance..."
NOTE - shares popped jumped a dollar yesterday, but are trading down $1.52 (-2.19%) today.
Aiken concluded by saying, "While a potential dividend increase was alluded to on the conference call, we do not believe that CM's valuation will trade above the peer average until it begins a stronger capital repatriation program with shareholders."
Barclays raised FY12 EPS estimates from $7.70 to $7.93 and FY13 from $8.04 to $8.26.
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 $69.53 yesterday.
Analyst, John Aiken, said, "CIBC generated another solid quarter on the back of continued strong cost containment. However, the market appears unwilling to give it full credit for this outperformance..."
NOTE - shares popped jumped a dollar yesterday, but are trading down $1.52 (-2.19%) today.
Aiken concluded by saying, "While a potential dividend increase was alluded to on the conference call, we do not believe that CM's valuation will trade above the peer average until it begins a stronger capital repatriation program with shareholders."
Barclays raised FY12 EPS estimates from $7.70 to $7.93 and FY13 from $8.04 to $8.26.
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 $69.53 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- New Street Research Upgrades Micron Technology (MU) to Buy
- Solar Industries (SOIL:IN) PT Raised to INR23,500 at ICICI Securities
- Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
CIBC, Barclays, DividendSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
