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Benzinga
Benzinga
Business
Akanksha Bakshi

Desjardins Cuts Canadian Western Bank Price Target By ~14%

Desjardins Doug Young

Desjardins analyst Doug Young lowered the price target for Canadian Western Bank (TSX:CWB) (OTC:CBWBF) to C$38 from C$44 while maintaining the Buy rating on the shares.

The analyst states that CWB’s 2Q FY22 results had a negative impact, as Adjusted pre-tax and pre-provision (PTPP) earnings were 6% below estimate, driven primarily by lower NIMs.

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