We've moved
We have moved Trading Desk to a new home with better features and a new design! You can visit it directly, or subscribe to the RSS or Atom feeds
You can also visit our brand new home pages, www.nationalpost.com and www.financialpost.com
New blog address: http://network.nationalpost.com/np/blogs/tradingdesk/default.aspx
RSS: http://network.nationalpost.com/np/blogs/tradingdesk/rss.aspx
ATOM: http://network.nationalpost.com/np/blogs/tradingdesk/atom.aspx
Visit Trading Desk
Another big writedown estimate for CIBC
Posted on June 25, 2008
RBC Capital Markets Andre-Philippe Hardy added his name to the growing list of analysts expecting more large writedowns from CIBC. He increased his third-quarter writedown estimate for the Canadian bank from $1-billion to $1.5-billion due to recent downgrades by ratings agencies of financial guarantors CIBC has exposure to. He also maintained his underperform rating and lowered his target price from $64 to $62 per share.Mr. Hardy s decision is also a result of continued pressure on the value of collateralized debt obligations of residential mortgage-backed securities and widening sp...
Original article link
Subscribe to Trading Desk