TSX:AX.PR.E - Post by User
Post by
perplexed01on Mar 04, 2019 3:44am
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Post# 29436674
cibc analyst maintains neutral and 11.5 target, NAV $14
cibc analyst maintains neutral and 11.5 target, NAV $14i have been a long term (bag) holder of ax for the dividend as retirement income. the surprise 50% cut has removed all my trust in mgmt. While the NCIB really is going ahead (CIBC says 30% complete) i see little upside coupled with a small dividend. any resumption of BoC interest rate increases could easily reverse the current SP uptrend if true that 30% of target buybacks are already complete we may soon see a slowdown or pause. if so i think the SP trend will resume downward. i agree with others that it is soon time to exit and find better value elsewhere.