TOO MUCH TOO SOON.(BUSINESS)

Just two months after opening coverage on CNB Financial Corp. with a ``buy'' rating, CIBC World Markets analyst Peter Winter cut that to a ``hold'' -- because the stock did better than he expected.

Winter put a 12-month target of $15 on CNB in February. But by March 30, the stock spiked near $20 in interday trading. Hence, his cut.

Canajoharie-based CNB, parent of Central National Bank, might be a savory addition to another bank. If so, he said, it probably would sell for about $18 a share.

``The fundamentals are still in place for higher earnings growth,'' Winter said earlier this week of CNB's prospects. ``I just think the stock got ahead of …