CIBC Stock Recommendations and Price Targets

This is a list of recent ratings by CIBC.

Date	Company Name	Action	Current Price	Price Target	Rating
12/17/2025	SUUIF Superior Plus	Upgrade	$5.00		Neutral ➝ Outperform
12/17/2025	ACO.X ATCO	Boost Price Target	C$56.00	C$67.00 ➝ C$68.00
12/17/2025	AYA Aya Gold & Silver	Boost Price Target	C$20.00	C$25.00 ➝ C$27.00
12/17/2025	BLX Boralex	Lower Price Target	C$25.00	C$38.00 ➝ C$37.00
12/17/2025	CU Canadian Utilities	Boost Price Target	C$43.00	C$43.00 ➝ C$44.00
12/17/2025	ENB Enbridge	Lower Price Target	C$65.00	C$71.00 ➝ C$69.00
12/17/2025	FTS Fortis	Boost Price Target	C$71.00	C$75.00 ➝ C$76.00
12/17/2025	NPI Northland Power	Boost Price Target	C$17.00	C$22.00 ➝ C$23.00
12/17/2025	SGD Snowline Gold	Boost Price Target	C$16.00	C$17.50 ➝ C$22.00
12/17/2025	SPB Superior Plus	Upgrade	C$7.00	C$8.50 ➝ C$9.00	Neutral ➝ Outperform
12/17/2025	TRP TC Energy	Boost Price Target	C$74.00	C$78.00 ➝ C$81.00
12/17/2025	TA TransAlta	Boost Price Target	C$18.00	C$25.00 ➝ C$26.00
12/17/2025	ALA AltaGas	Boost Price Target	C$41.00	C$47.00 ➝ C$50.00
12/16/2025	CWEN Clearway Energy	Upgrade	$33.00	$37.00 ➝ $38.00	Neutral ➝ Sector Outperform
12/16/2025	PPL Pembina Pipeline	Lower Price Target	C$51.00	C$62.00 ➝ C$61.00
12/16/2025	EQX Equinox Gold	Downgrade	C$19.00	C$23.00 ➝ C$21.50	Outperform ➝ Neutral
12/16/2025	SKE Skeena Resources	Boost Price Target	C$33.00	C$36.00 ➝ C$40.00
12/15/2025	GIB.A CGI	Downgrade	C$127.00	C$146.00 ➝ C$139.00	Outperform ➝ Neutral
12/15/2025	CMG Computer Modelling Group	Lower Price Target	C$5.00	C$6.50 ➝ C$5.50
12/15/2025	CSU Constellation Software	Lower Price Target	C$3,315.00	C$5,480.00 ➝ C$5,260.00
12/15/2025	DND Dye & Durham	Lower Price Target	C$4.00	C$8.50 ➝ C$4.50
12/15/2025	KXS Kinaxis	Upgrade	C$175.00	C$201.00 ➝ C$203.00	Neutral ➝ Outperform
12/14/2025	KXSCF Kinaxis	Upgrade	$128.00		Neutral ➝ Outperform
12/12/2025	LUNMF Lundin Mining	Reiterated Rating	$20.00		Neutral ➝ Neutral
12/12/2025	EMLAF Empire	Reiterated Rating	$35.00		Outperform ➝ Outperform
12/12/2025	DLMAF Dollarama	Reiterated Rating	$145.00		Outperform ➝ Outperform
12/12/2025	WY Weyerhaeuser	Reiterated Rating	$24.00		Outperform ➝ Outperform
12/12/2025	WY Weyerhaeuser	Boost Price Target	$24.00	$27.00 ➝ $28.00	Outperformer ➝ Outperformer
12/12/2025	DOL Dollarama	Boost Price Target	C$200.00	C$199.00 ➝ C$212.00	Neutral
12/12/2025	EMP.A Empire	Lower Price Target	C$48.00	C$59.00 ➝ C$53.00	Outperform
12/12/2025	LUN Lundin Mining	Boost Price Target	C$28.00	C$24.00 ➝ C$30.00
12/11/2025	BMO Bank of Montreal	Boost Price Target	C$177.00	C$192.00 ➝ C$199.00	Outperform
12/11/2025	BNS Bank of Nova Scotia	Boost Price Target	C$99.00	C$100.00 ➝ C$103.00	Neutral
12/11/2025	NA National Bank of Canada	Boost Price Target	C$172.00	C$174.00 ➝ C$179.00	Neutral
12/11/2025	RY Royal Bank of Canada	Boost Price Target	C$228.00	C$220.00 ➝ C$229.00	Neutral
12/11/2025	TD Toronto-Dominion Bank	Boost Price Target	C$126.00	C$122.00 ➝ C$129.00	Outperform
12/9/2025	IFSPF Interfor	Downgrade	$6.00		Neutral ➝ Underperform
12/9/2025	WFG West Fraser Timber	Downgrade	$62.00		Outperform ➝ Neutral
12/9/2025	BCE BCE	Upgrade	$23.00		Neutral ➝ Sector Outperform
12/9/2025	BCE BCE	Upgrade	C$32.00		Neutral ➝ Sector Outperform
12/9/2025	IFP Interfor	Downgrade	C$8.00	C$9.00 ➝ C$8.00	Neutral ➝ Underperform
12/9/2025	QBR.B Quebecor	Boost Price Target	C$51.00	C$54.00 ➝ C$57.00
12/9/2025	RCI.B Rogers Communications	Boost Price Target	C$51.00	C$58.00 ➝ C$60.00	Outperform
12/9/2025	WFG West Fraser Timber	Lower Price Target	C$85.00	C$113.00 ➝ C$96.00
12/8/2025	LB Laurentian Bank of Canada	Downgrade	C$40.00	C$35.00 ➝ C$40.50	Neutral ➝ Tender
12/5/2025	ERO Ero Copper	Reiterated Rating	$25.00		Neutral ➝ Neutral
12/5/2025	DPMLF DPM Metals	Reiterated Rating	$30.00		Neutral ➝ Neutral
12/5/2025	DOOO BRP	Reiterated Rating	$75.00		Outperform ➝ Outperform
12/5/2025	DPM Dundee Precious Metals	Boost Price Target	C$41.00	C$40.00 ➝ C$44.00	Neutral
12/5/2025	ERO Ero Copper	Boost Price Target	C$34.00	C$37.00 ➝ C$42.00
12/5/2025	DOO BRP	Boost Price Target	C$104.00	C$115.00 ➝ C$118.00	Outperform
12/4/2025	NTIOF National Bank of Canada	Reiterated Rating	$126.00		Neutral ➝ Neutral
12/4/2025	NA National Bank of Canada	Boost Price Target	C$172.00	C$166.00 ➝ C$174.00	Neutral
12/4/2025	TVE Tamarack Valley Energy	Boost Price Target	C$8.00	C$8.00 ➝ C$9.00	Outperform
12/3/2025	WHTCF WELL Health Technologies	Upgrade	$3.00		Neutral ➝ Outperform
12/3/2025	GEI Gibson Energy	Boost Price Target	C$25.00	C$26.00 ➝ C$30.00
12/3/2025	WELL WELL Health Technologies	Upgrade	C$4.00		Neutral ➝ Outperform
12/2/2025	CF CF Industries	Initiated Coverage	$79.00	$87.00	Neutral
11/28/2025	CNI Canadian National Railway	Upgrade	$97.00	$146.00 ➝ $151.00	Neutral ➝ Outperformer
11/28/2025	CNR Canadian National Railway	Upgrade	C$134.00	C$146.00 ➝ C$151.00	Neutral ➝ Outperform
11/27/2025	SU Suncor Energy	Boost Price Target	C$59.00	C$65.00 ➝ C$70.00
11/27/2025	TECK.B Teck Resources	Boost Price Target	C$61.00	C$57.00 ➝ C$61.00	Buy
11/26/2025	DOO BRP	Boost Price Target	C$104.00	C$100.00 ➝ C$115.00	Outperform
11/25/2025	HL Hecla Mining	Boost Price Target	$19.00	$15.00 ➝ $16.50	Neutral ➝ Neutral
11/24/2025	AIF Altus Group	Boost Price Target	C$55.00	C$54.00 ➝ C$62.00
11/21/2025	NPIFF Northland Power	Reiterated Rating	$12.00		Outperform ➝ Outperform
11/21/2025	BTG B2Gold	Lower Price Target	$5.00	$6.00	Neutral ➝ Neutral
11/20/2025	EQX Equinox Gold	Boost Price Target	C$19.00	C$22.00 ➝ C$23.00	Outperform
11/20/2025	KGC Kinross Gold	Boost Price Target	$28.00	$36.00 ➝ $37.00	Outperform
11/20/2025	NPI Northland Power	Lower Price Target	C$17.00	C$25.00 ➝ C$24.00	Outperform
11/19/2025	POW Power Co. of Canada	Set Price Target	C$72.00	C$75.00	Neutral
11/19/2025	RY Royal Bank of Canada	Boost Price Target	C$228.00	C$208.00 ➝ C$220.00
11/19/2025	TD Toronto-Dominion Bank	Boost Price Target	C$126.00	C$112.00 ➝ C$122.00
11/19/2025	BMO Bank of Montreal	Boost Price Target	C$177.00	C$180.00 ➝ C$192.00
11/19/2025	IGM IGM Financial	Set Price Target	C$62.00	C$61.00	Neutral
11/19/2025	NA National Bank of Canada	Boost Price Target	C$172.00	C$154.00 ➝ C$166.00
11/19/2025	BNS Bank of Nova Scotia	Boost Price Target	C$99.00	C$93.00 ➝ C$100.00
11/18/2025	SIA Sienna Senior Living	Upgrade	C$20.00	C$20.00 ➝ C$23.00	Neutral ➝ Outperform
11/17/2025	WNGRF George Weston	Reiterated Rating	$69.00		Outperform ➝ Outperform
11/17/2025	BTEGF Baytex Energy	Reiterated Rating	$3.00		Neutral ➝ Neutral
11/17/2025	MEOH Methanex	Reiterated Rating	$39.00		Outperform ➝ Outperform
11/17/2025	AGGZF Ag Growth International	Downgrade	$17.00		Outperform ➝ Neutral
11/17/2025	AFN Ag Growth International	Downgrade	C$23.00	C$58.00 ➝ C$33.00	Outperform ➝ Neutral
11/17/2025	MEOH Methanex	Boost Price Target	$39.00	$44.00 ➝ $47.00	Outperformer ➝ Outperformer
11/17/2025	ACQ AutoCanada	Lower Price Target	C$22.00	C$38.00 ➝ C$33.00
11/17/2025	WN George Weston	Boost Price Target	C$96.00	C$100.00 ➝ C$112.00
11/17/2025	HR.UN H&R Real Estate Investment Trust	Lower Price Target	C$10.00	C$13.50 ➝ C$11.50
11/14/2025	BN Brookfield	Reiterated Rating	$44.00	$50.67 ➝ $52.00	Outperform ➝ Outperform
11/14/2025	SUUIF Superior Plus	Downgrade	$5.00		Outperform ➝ Neutral
11/14/2025	BN Brookfield	Boost Price Target	$44.00	$50.67 ➝ $52.00	Outperformer ➝ Outperformer
11/14/2025	BDT Bird Construction	Lower Price Target	C$29.00	C$37.00 ➝ C$36.00
11/14/2025	CCL.B CCL Industries	Boost Price Target	C$86.00	C$93.00 ➝ C$99.00
11/14/2025	CHE.UN Chemtrade Logistics Income Fund	Boost Price Target	C$14.00	C$16.00 ➝ C$19.00
11/14/2025	DSV Discovery Silver	Boost Price Target	C$1.00	C$8.00 ➝ C$9.50
11/14/2025	DIV Diversified Royalty	Boost Price Target	C$4.00	C$3.50 ➝ C$4.00
11/14/2025	SPB Superior Plus	Lower Price Target	C$7.00	C$9.00 ➝ C$8.50
11/14/2025	FRU Freehold Royalties	Boost Price Target	C$15.00	C$14.50 ➝ C$15.25
11/14/2025	KEL Kelt Exploration	Boost Price Target	C$7.00	C$10.50 ➝ C$11.00
11/14/2025	KPT KP Tissue	Boost Price Target	C$10.00	C$10.50 ➝ C$11.00
11/14/2025	MFC Manulife Financial	Boost Price Target	C$49.00	C$49.00 ➝ C$50.00