The Globe and Mail reports in its Wednesday, May 17, edition that CIBC World Markets analyst Paul Holden rates Canadian Western Bank "neutral." The Globe's David Leeder writes in the Eye On Equities column that Mr. Holden gave his share target a $2 trim to $28. Analysts on average target the shares at $30.71. The Globe says Mr. Holden sees a "challenging" second quarter earnings season ahead for Canadian banks. Mr. Holden says in a note: "Trends for the majority of earnings drivers are negative, with an increasing rate of change. With the recent bank failures in the U.S., a main focus this quarter will be on funding and liquidity risks and the overall impact to NIMs going forward. With most banks guiding to NIM expansion in the second half of F2023, any updates on how the market environment has changed these assumptions will likely be a major driver of stock performance. We can't help but think there is a downward bias to the NIM outlook. We expect banks will continue to work their way up to a 12-per-cent CET1 ratio by the end of the year (for those that are still below), but still announce a modest dividend increase. ... We expect elevated expenses and slowing loan growth."