CIBC price target lowered to C$57 from C$58 at Barclays

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.