National Bank Financial Inc Maintains Sector Perform on Canadian Imperial Bank, Lowers Price Target to C$62
Portfolio Pulse from Benzinga Newsdesk
National Bank Financial Inc's analyst Gabriel Dechaine has maintained a 'Sector Perform' rating on Canadian Imperial Bank (NYSE:CM) and lowered the price target from C$64 to C$62.
September 01, 2023 | 4:43 pm
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Canadian Imperial Bank's price target has been lowered from C$64 to C$62 by National Bank Financial Inc.
The lowering of the price target by an analyst usually indicates a potential decrease in the stock's value. This is because the new target is based on the analyst's evaluation of the company's future earnings potential. Therefore, this news could negatively impact the short-term price of Canadian Imperial Bank's stock.
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IMPORTANCE 80
RELEVANCE 100