FINWIRES · TerminalLIVE
FINWIRES

CIBC Price Target Raised to $167 at RBC

By

RBC Capital Markets raised its price target on Canadian Imperial Bank of Commerce (CM.TO, CM) to $167 from $147.

Analyst Darko Mihelic maintained an Outperform rating on shares of the Canadian bank following its Q2 results.

"Results were higher than expected across the operating segments except for Canadian Personal and Business Banking," Mihelic said in a note to clients.

"CM made several announcements this quarter including an intended NCIB, an agreement to sell its stake in CIBC Caribbean, and a definitive agreement for a tuck-in wealth strategic partnership / minority interest acquisition," the analyst said.

"We mainly model higher impaired PCLs in Canada and we reflect the planned sale of CM's stake in CIBC Caribbean; our estimates decrease."

Related Articles

Research

Wells Fargo Upgrades Tandem Diabetes Care to Overweight From Equalweight, Adjusts Price Target to $27 From $21

Tandem Diabetes Care (TNDM) has an average rating of overweight and mean price target of $29.42, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$TNDM
Research

HC Wainwright Downgrades Crescent Biopharma to Neutral From Buy

Crescent Biopharma (CBIO) has an average rating of buy and mean price target of $29.50, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$CBIO
Research

Loop Capital Initiates Carnival at Buy With $36 Price Target

Carnival (CCL) has an average rating of buy and mean price target of $34.06, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$CCL