The Financial Post reports in its Tuesday, April 14, edition that Canadian Imperial Bank of Commerce is the country's best-valued bank stock, says CIBC World Markets analyst Robert Sedran. The Post's David Pett writes in the Trading Desk column that Mr. Sedran says, "The bank's share price has underperformed the group by almost three per cent over the past three months and its shares trade at a wider discount than the 10-year historical average." Bank of Nova Scotia ranks second on his valuation scorecard, followed by Royal Bank of Canada and National Bank of Canada. Bank of Montreal is next followed by Toronto-Dominion Bank, which fell in the ranking because of "strong share price outperformance versus the group, which was helped by optimism over the United States outlook." Mr. Sedran says the banks, down 5 per cent since the beginning of the year, continue to show resilience in a tough operating environment, but he expects the negative impact from lower oil prices will grow in the weeks ahead. Despite his latest valuation rankings, he continues to rate Royal Bank and TD as his only two sector outperformer banks. Mr. Pett notes that Mr. Sedran does not cover CIBC.