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PVTB

PrivateBancorp

$46.78

-0.18 (-0.38%)

, CM

CIBC

$78.67

-0.27 (-0.34%)

05:56
12/01/16
12/01
05:56
12/01/16
05:56

PrivateBancorp says proxy firms recommend holders vote FOR acquisition of CIBC

PrivateBancorp (PVTB) announced that Glass Lewis and Egan-Jones Proxy Services, two independent proxy voting and corporate governance advisory firms, recommended PrivateBancorp stockholders vote FOR the proposed acquisition of PrivateBancorp by Canadian Imperial Bank of Commerce (CM) for $3.8B in cash and stock at the special meeting of PrivateBancorp stockholders scheduled for December 8, 2016.

PVTB

PrivateBancorp

$46.78

-0.18 (-0.38%)

CM

CIBC

$78.67

-0.27 (-0.34%)

  • 01

    Dec

  • 08

    Dec

PVTB PrivateBancorp
$46.78

-0.18 (-0.38%)

06/30/16
KBWI
06/30/16
DOWNGRADE
KBWI
Market Perform
PrivateBancorp downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette downgraded PrivateBancorp to Market Perform following the company's sale to CIBC at $47 per share.
06/30/16
RAJA
06/30/16
DOWNGRADE
RAJA
Market Perform
PrivateBancorp downgraded to Market Perform from Strong Buy at Raymond James
Raymond James analyst David Long downgraded Privatebancorp (PVTB) to Market Perform following the acquisition by CIBC (CM) saying he does not expected a competing bid to come to the table.
06/30/16
RBCM
06/30/16
DOWNGRADE
RBCM
Sector Perform
PrivateBancorp downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital downgraded PrivateBancorp after the company agreed to be acquired by CIBC. Target $46.
06/30/16
06/30/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on the today's top five analyst downgrades with this list compiled by The Fly: 1. Diamond Resorts (DRII) downgraded to Neutral from Buy at Goldman by analyst Steven Kent after the company agreed to be acquired by Apollo Global Management (APO) for $30.25 per share. The analyst keeps his price target of $32 for the shares. MKM Partners also downgraded Diamond Resorts to Neutral from Buy. 2. Qualcomm (QCOM) downgraded to Market Perform from Outperform by Bernstein, which kept a $55 target on the stock. The firm thinks that estimates for the company's September quarter remain too high, due to unrealistic licensing expectations. Bernstein adds that the company has long-term "structural issues." 3. TESARO (TSRO) downgraded to Hold from Buy at Jefferies by analyst Eun Yang, citing yesterday's rally on the company's positive Phase 3 data for niraparib in ovarian cancer. The data were better than expected, but so was the stock move, Yang tells investors in a research note. The analyst prefers a Hold rating ahead of the full data set as well as competitor data in the second half of 2016 and 2017. She lists a potential takeout and competitor data not being as good as niraparib as risks to her downgrade. Yang raised her price target for TESARO shares to $75 from $53.4. PrivateBancorp (PVTB) downgraded to Market Perform from Outperform at Keefe Bruyette by analyst David Long following the acquisition by CIBC (CM) saying he does not expected a competing bid to come to the table. PrivateBancorp was also downgraded to Market Perform from Outperform at Keefe Bruyette. 5. Spirit AeroSystems (SPR) downgraded to Market Perform from Outperform at Wells Fargo by analyst Sam Pearlstein, saying a charge for the A350 could make multiple expansion difficult. Spirit could be close to finishing a revised A350 pricing agreement that, when completed, could trigger a reach-forward loss accrual of around $200M, Pearlstein says. The analyst lowered his price target range for the shares to $50-$55 from $55-$60.This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CM CIBC
$78.67

-0.27 (-0.34%)

12/07/15
12/07/15
DOWNGRADE

On the Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARM Holdings (ARMH) downgraded to Market Perform from Outperform at Northland...Agios Pharmaceuticals (AGIO) downgraded to Market Perform from Outperform at Leerink...ArcelorMittal (MT) downgraded to Hold from Buy at HSBC...Big Lots (BIG) downgraded to Neutral from Overweight at Piper Jaffray...CIBC (CM) downgraded to Underperform from Neutral at Credit Suisse...Children's Place (PLCE) downgraded to Peer Perform from Outperform at Wolfe Research...Chipotle (CMG) downgraded to Market Perform from Outperform at Cowen...Covanta (CVA) downgraded to Hold from Buy at Stifel...Flushing Financial (FFIC) downgraded to Hold from Buy at Sandler O'Neill...KBR (KBR) downgraded to Sell from Neutral at Goldman...Legacy Reserves (LGCY) downgraded to Hold from Buy at Stifel...Motorola Solutions (MSI) downgraded to Hold from Buy at Gabelli...Polaris Industries (PII) downgraded to Neutral from Buy at UBS...Sherritt (SHERF) downgraded to Sector Perform from Outperform at RBC Capital...Sonoco Products (SON) downgraded to Underweight from Equal Weight at Barclays...Sovran Self Storage (SSS) downgraded to Sector Weight from Overweight at KeyBanc...Thompson Creek (TC) downgraded to Underperform from Sector Perform at RBC Capital...Threshold Pharmaceuticals (THLD) downgraded to Hold from Buy at Stifel...Towers Watson (TW) downgraded to Market Perform from Outperform at Raymond James...Tyson Foods (TSN) downgraded to Equal Weight from Overweight at Stephens...Vanguard Natural (VNR) downgraded to Sell from Hold at Stifel...bluebird bio (BLUE) downgraded to Equal Weight from Overweight at Morgan Stanley.
09/21/16
DUND
09/21/16
INITIATION
DUND
Buy
CIBC initiated with a Buy at Dundee
11/01/16
BOFA
11/01/16
INITIATION
Target $72
BOFA
Underperform
CIBC initiated with an Underperform at BofA/Merrill
BofA/Merrill analyst Ebrahim Poonawala initiated CIBC with an Underperform and a $72 price target citing the lack of geographic diversity and earnings concentration.

TODAY'S FREE FLY STORIES

FCX

Freeport McMoRan

$14.91

-0.16 (-1.06%)

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SOHU

Sohu.com

$39.35

0.1 (0.25%)

05:36
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Earnings
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SEMG

SemGroup

$40.05

0.15 (0.38%)

05:34
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  • 24

    Feb

SOHU

Sohu.com

$39.35

0.1 (0.25%)

05:34
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05:34
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Earnings
Sohu.com reports Q4 EPS ($1.79), consensus ($2.08) »

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  • 21

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JELD

JELD-WEN Holding

$29.48

0.48 (1.66%)

05:33
02/21/17
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05:33
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05:33
Initiation
JELD-WEN Holding initiated  »

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REVG

REV Group

$27.59

0.37 (1.36%)

05:32
02/21/17
02/21
05:32
02/21/17
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Initiation
REV Group initiated  »

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REVG

REV Group

$27.59

0.37 (1.36%)

05:32
02/21/17
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05:32
02/21/17
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Initiation
REV Group initiated  »

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JAG

Jagged Peak Energy

$13.50

-0.08 (-0.59%)

05:30
02/21/17
02/21
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Initiation
Jagged Peak Energy initiated  »

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JAG

Jagged Peak Energy

$13.50

-0.08 (-0.59%)

05:30
02/21/17
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Initiation
Jagged Peak Energy initiated  »

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JAG

Jagged Peak Energy

$13.50

-0.08 (-0.59%)

05:29
02/21/17
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Initiation
Jagged Peak Energy initiated  »

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JAG

Jagged Peak Energy

$13.50

-0.08 (-0.59%)

05:28
02/21/17
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05:28
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Initiation
Jagged Peak Energy initiated  »

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JAG

Jagged Peak Energy

$13.50

-0.08 (-0.59%)

05:28
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Initiation
Jagged Peak Energy initiated  »

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JAG

Jagged Peak Energy

$13.50

-0.08 (-0.59%)

05:26
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Initiation
Jagged Peak Energy initiated  »

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AFLYY

Air France-KLM

$6.83

0.29 (4.43%)

05:25
02/21/17
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05:25
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05:25
Upgrade
Air France-KLM rating change  »

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ENGGY

Enagas

$12.34

-0.0699 (-0.56%)

05:24
02/21/17
02/21
05:24
02/21/17
05:24
Downgrade
Enagas rating change  »

Enagas downgraded to…

03/08/13
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03/08/13
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CRBP

Corbus Pharmaceuticals

$8.85

0.55 (6.63%)

04:55
02/21/17
02/21
04:55
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04:55
Conference/Events
Cantor Fitzgerald health/pharma analysts hold analyst/industry conference call »

Analysts, along with Key…

03/08/13
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  • 21

    Feb

04:55
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02/21
04:55
02/21/17
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Conference/Events
CLSA automotive analyst holds an analyst/industry conference call »

Analyst Rosner, along…

AGR

AVANGRID

$40.91

0.13 (0.32%)

04:55
02/21/17
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Conference/Events
AVANGRID to hold a financial update »

Management holds a…

03/08/13
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  • 21

    Feb

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  • 28

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LHCG

LHC Group

$48.30

0.12 (0.25%)

04:55
02/21/17
02/21
04:55
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Conference/Events
LHC Group management to meet with Oppenheimer »

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03/08/13
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  • 21

    Feb

  • 22

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    Mar

HNI

HNI Corporation

$46.09

0.04 (0.09%)

04:55
02/21/17
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Conference/Events
HNI Corporation management to meet with Sidoti »

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  • 21

    Feb

  • 22

    Feb

KN

Knowles

$19.42

0.14 (0.73%)

04:55
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Conference/Events
Knowles management to meet with Roth Capital »

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  • 21

    Feb

  • 22

    Feb

04:55
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General news
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04:55
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General news
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04:55
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Conference/Events
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Technology Analyst…

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