CIBC Price Target Raised to $134 at TD

MT Newswires Live12-05 21:08

TD Securities raised its price target on Canadian Imperial Bank of Commerce (CM.TO) to $134 from $124 on Friday.

Analyst Mario Mendonca maintained a Buy rating on shares of the Canadian bank following its Q4 results.

"We view the quarter favourably in several respects: a) stability in PCLs; b) strong growth in Canadian P&B PTPP; c) strong capital markets; and d) ongoing NIM expansion," Mendonca said in a note to clients.

"In our view, results support a P/E better than most peers," the analyst said.

(MT Newswires 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.mtnewswires.com/contact-us)

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