Keefe Bruyette analyst Mike Rizvanovic downgraded Canadian Western Bank to Market Perform from Outperform with a price target of C$29, down from C$34. The analyst believes near-term challenges will continue to weigh on the shares, namely "persistent margin pressure" on further Bank of Canada rate hikes and the "stretched-out timeline" on the AIRB transition. Rizvanovic does not see any near-term catalyst for the shares.
Published first on TheFly
