WELL Health Technologies Corp T.WELL

CIBC

[retiredcf]

This is the only thing I can find this morning so perhaps a CIBC fund is closing out a position. Unsure which other two companies he is referring to but as can be seen, this analyst is nowhere close to market consensus. GLTA

CIBC’s Scott Fletcher downgraded Well Health Technologies Corp. (WELL-T) to “neutral” from “outperformer” with a $4.75 target, down from $5.50 and below the $8.08 average.

“WELL faced margin headwinds across its business in 2023 and we expect margins to remain pressured into 2024, slowing EBITDA growth,” he said. “We are also adjusting our valuation to better account for shareholders’ portion of WELL’s EBITDA, leading to a reduction in our price target from $5.50 to $4.75. We prefer a wait-and-see approach as WELL works to implement cost savings initiatives and integrates recent acquisitions. In addition to the WELL downgrade and price target change, we are rolling our financial models forward to 2025 for all three companies and updating our price target calculations.”

[sorrenson]

The man is an idiot . But dont believe me , Believe the CIBC  Win-loss rate   3 out of 15 successful ratings    20% Average return Average return per rating: -11.0% A monkey throwng darts can do better

[NLMoose]

CIBC should be ashamed of themselves for thinking negatively about a stock with great potential and value like Well Health. Besides, CIBC should have no right to make judgements about a stock. That should be up to a major bank like TD Canada Trust or RBC, not a jobber like CIBC.