You have to understand the process to know that there is nothing 'foolish' about the CIBC downgrade. Stock has exceeded their price target of $9.50. They still feel that is a reasonable target and therefore expect the stock to slide back in that direction. My view is it likely will with the prospect of a dividend reduction in the near future. If you feel $12 is easy in 60 days, by all means go with your convictions......!