CIBC Stock Recommendations and Price Targets

This is a list of recent ratings by CIBC.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
10/15/2021	BDRBF Bombardier	Boost Price Target	C$2.00	C$1.30 ➝ C$1.60	Underperform	Medium
10/15/2021	ESVIF Ensign Energy Services	Boost Price Target	C$2.00	C$2.50 ➝ C$2.75	Neutral	Low
10/15/2021	BBD.B Bombardier, Inc. Class B	Boost Price Target	C$2.00	C$1.30 ➝ C$1.60	NA	N/A
10/15/2021	ESI Ensign Energy Services	Boost Price Target	C$2.00	C$2.50 ➝ C$2.75	NA	N/A
10/15/2021	TNEYF Tamarack Valley Energy	Boost Price Target	C$3.00	C$4.00 ➝ C$5.00	Outperform	Low
10/15/2021	BTEGF Baytex Energy	Boost Price Target	C$3.00	C$3.00 ➝ C$4.25	Neutral	Low
10/15/2021	TVE Tamarack Valley Energy	Boost Price Target	C$3.00	C$4.00 ➝ C$5.00	NA	N/A
10/15/2021	BTE Baytex Energy	Boost Price Target	C$4.00	C$3.00 ➝ C$4.25	NA	N/A
10/15/2021	KELTF Kelt Exploration	Boost Price Target	C$4.00	C$5.50 ➝ C$6.50	Outperform	Low
10/15/2021	SECYF Secure Energy Services	Boost Price Target	C$5.00	C$6.50 ➝ C$7.00	Outperform	Low
10/15/2021	NUVSF NuVista Energy	Boost Price Target	C$5.00	C$5.00 ➝ C$7.50	Neutral	Low
10/15/2021	SRMLF Storm Resources	Downgrade	$5.00		Outperform ➝ Neutral	Low
10/15/2021	CPG Crescent Point Energy	Boost Price Target	C$5.00	C$9.00 ➝ C$9.75	Outperform	Low
10/15/2021	KEL Kelt Exploration	Boost Price Target	C$5.00	C$5.50 ➝ C$6.50	NA	N/A
10/15/2021	AAVVF Advantage Energy	Boost Price Target	C$5.00	C$7.00 ➝ C$9.00	Outperform	Low
10/15/2021	BIREF Birchcliff Energy	Boost Price Target	C$6.00	C$6.50 ➝ C$9.00	Outperform	Low
10/15/2021	SES Secure Energy Services	Boost Price Target	C$6.00	C$6.50 ➝ C$7.00	NA	N/A
10/15/2021	NVA NuVista Energy	Boost Price Target	C$6.00	C$5.00 ➝ C$7.50	NA	N/A
10/15/2021	SRX Storm Resources	Boost Price Target	C$6.00	C$6.30 ➝ C$7.00	NA	N/A
10/15/2021	SPGYF Whitecap Resources	Boost Price Target	C$6.00	C$9.25 ➝ C$109.50	Outperform	Low
10/15/2021	CPG Crescent Point Energy	Boost Price Target	C$6.00	C$9.00 ➝ C$9.75	NA	N/A
10/15/2021	AAV Advantage Energy	Boost Price Target	C$6.00	C$7.00 ➝ C$9.00	NA	N/A
10/15/2021	BIR Birchcliff Energy	Boost Price Target	C$7.00	C$6.50 ➝ C$9.00	NA	N/A
10/15/2021	PEYUF Peyto Exploration & Development	Boost Price Target	C$8.00	C$8.00 ➝ C$11.00	Neutral	Low
10/15/2021	CHE.UN Chemtrade Logistics Income Fund	Reiterated Rating	C$8.00		Outperform	N/A
10/15/2021	ENRFF Enerflex	Boost Price Target	C$9.00	C$10.00 ➝ C$12.00	Neutral	Medium
10/15/2021	NSR Nomad Royalty	Reiterated Rating	C$9.00	C$11.00	Hold	N/A
10/15/2021	MEGEF MEG Energy	Boost Price Target	C$9.00	C$14.00 ➝ C$17.00	Neutral	Low
10/15/2021	PEY Peyto Exploration & Development	Boost Price Target	C$9.00	C$8.00 ➝ C$11.00	NA	N/A
10/15/2021	FRHLF Freehold Royalties	Boost Price Target	C$9.00	C$14.00 ➝ C$16.00	Outperform	Low
10/15/2021	ERF Enerplus	Boost Price Target	C$9.00	C$13.00 ➝ C$16.00	Outperform	Low
10/15/2021	AETUF ARC Resources	Boost Price Target	C$10.00	C$14.00 ➝ C$16.00	Outperform	Low
10/15/2021	EFX Enerflex	Boost Price Target	C$11.00	C$10.00 ➝ C$12.00	NA	N/A
10/15/2021	MEG MEG Energy	Boost Price Target	C$11.00	C$14.00 ➝ C$17.00	NA	N/A
10/15/2021	VET Vermilion Energy	Boost Price Target	C$11.00	C$12.50 ➝ C$15.00	Neutral	Low
10/15/2021	ERF Enerplus	Boost Price Target	C$12.00	C$13.00 ➝ C$16.00	NA	N/A
10/15/2021	CVE Cenovus Energy	Boost Price Target	C$12.00	C$20.00 ➝ C$22.00	Outperform	Low
10/15/2021	FRU Freehold Royalties	Boost Price Target	C$12.00	C$14.00 ➝ C$16.00	NA	N/A
10/15/2021	ARX ARC Resources	Boost Price Target	C$12.00	C$14.00 ➝ C$16.00	NA	N/A
10/15/2021	PREKF PrairieSky Royalty	Boost Price Target	C$13.00	C$17.00 ➝ C$18.00	Neutral	Low
10/15/2021	VET Vermilion Energy	Boost Price Target	C$13.00	C$12.50 ➝ C$15.00	NA	N/A
10/15/2021	TPZEF Topaz Energy	Boost Price Target	C$15.00	C$21.00 ➝ C$22.00	Outperform	Low
10/15/2021	CVE Cenovus Energy	Boost Price Target	C$14.00	C$20.00 ➝ C$22.00	NA	N/A
10/15/2021	PSK PrairieSky Royalty	Boost Price Target	C$15.00	C$17.00 ➝ C$18.00	NA	N/A
10/15/2021	PRMRF Paramount Resources	Boost Price Target	C$16.00	C$20.00 ➝ C$27.00	Neutral	Low
10/15/2021	WEED Canopy Growth	Reiterated Rating	C$17.00	C$22.00	Hold	N/A
10/15/2021	TPZ Topaz Energy	Boost Price Target	C$18.00	C$21.00 ➝ C$22.00	NA	N/A
10/15/2021	POU Paramount Resources	Boost Price Target	C$20.00	C$20.00 ➝ C$27.00	NA	N/A
10/15/2021	GEI Gibson Energy	Reiterated Rating	C$24.00	C$25.00	Hold	N/A
10/15/2021	IMO Imperial Oil	Boost Price Target	C$35.00	C$48.00 ➝ C$50.00	Neutral	N/A
10/15/2021	TRMLF Tourmaline Oil	Boost Price Target	C$36.00	C$55.00 ➝ C$60.00	Outperform	Low
10/15/2021	CNQ Canadian Natural Resources	Boost Price Target	C$42.00	C$58.00 ➝ C$62.00	Outperform	Low
10/15/2021	IMO Imperial Oil	Boost Price Target	C$43.00	C$48.00 ➝ C$50.00	NA	N/A
10/15/2021	TOU Tourmaline Oil	Boost Price Target	C$44.00	C$55.00 ➝ C$60.00	NA	N/A
10/15/2021	PDS Precision Drilling	Boost Price Target	C$49.00	C$60.00 ➝ C$65.00	Neutral	Low
10/15/2021	CNQ Canadian Natural Resources	Boost Price Target	C$52.00	C$58.00 ➝ C$62.00	NA	N/A
10/15/2021	PD Precision Drilling	Boost Price Target	C$61.00	C$60.00 ➝ C$65.00	NA	N/A
10/15/2021	GRT.UN Granite Real Estate Investment Trust	Reiterated Rating	C$95.00		Outperform	N/A
10/14/2021	CGIFF Chemtrade Logistics Income Fund	Boost Price Target	C$7.00	C$8.50 ➝ C$10.00	Outperform	Low
10/14/2021	WCP Whitecap Resources	Reiterated Rating	C$8.00	C$9.25 ➝ C$10.50	Buy	N/A
10/14/2021	CHE.UN Chemtrade Logistics Income Fund	Boost Price Target	C$8.00	C$8.50 ➝ C$10.00	NA	N/A
10/14/2021	LUG Lundin Gold	Reiterated Rating	C$11.00	C$15.00	Buy	N/A
10/14/2021	TCN Tricon Residential	Boost Price Target	C$14.00	C$17.00 ➝ C$18.50	Outperform	Low
10/14/2021	TCN Tricon Residential	Boost Price Target	C$17.00	C$17.00 ➝ C$18.50	Outperform	N/A
10/14/2021	DYNDF Dye & Durham	Lower Price Target	C$30.00	C$50.50 ➝ C$44.00	Neutral	Medium
10/14/2021	ATZAF Aritzia	Boost Price Target	C$39.00	C$43.00 ➝ C$52.00	Outperform	Low
10/14/2021	DND Dye & Durham	Lower Price Target	C$38.00	C$50.50 ➝ C$44.00	Neutral	N/A
10/14/2021	ATZ Aritzia	Boost Price Target	C$48.00	C$43.00 ➝ C$52.00	Outperform	N/A
10/14/2021	GRT.UN Granite Real Estate Investment Trust	Boost Price Target	C$95.00	C$92.00 ➝ C$105.00	NA	N/A
10/13/2021	OLA Orla Mining	Reiterated Rating	C$4.00	C$7.00	Buy	N/A
10/13/2021	FSM Fortuna Silver Mines	Lower Price Target	C$5.00	C$9.00 ➝ C$8.00	Neutral	Low
10/13/2021	FVI Fortuna Silver Mines	Lower Price Target	C$6.00	C$9.00 ➝ C$8.00		N/A
10/13/2021	TCN Tricon Residential	Reiterated Rating	C$17.00	C$19.00	Buy	N/A
10/13/2021	MTYFF MTY Food Group	Boost Price Target	C$52.00	C$74.00 ➝ C$84.00	Outperform	Low
10/13/2021	SLF Sun Life Financial	Reiterated Rating	C$69.00	C$74.00	Buy	N/A
10/13/2021	NTR Nutrien	Reiterated Rating	C$88.00	C$99.00	Outperform	N/A
10/13/2021	WFG West Fraser Timber	Reiterated Rating	C$113.00	C$120.00	Buy	N/A
10/13/2021	IFC Intact Financial	Reiterated Rating	C$168.00	C$197.00	Buy	N/A
10/12/2021	CMMC Copper Mountain Mining	Reiterated Rating	C$4.00	C$5.50	Buy	N/A
10/12/2021	FVI Fortuna Silver Mines	Reiterated Rating	C$6.00	C$9.00	Neutral	N/A
10/12/2021	CS Capstone Mining	Reiterated Rating	C$6.00	C$7.50	Outperform	N/A
10/12/2021	AAV Advantage Energy	Reiterated Rating	C$6.00	C$7.00	Outperform	N/A
10/12/2021	HBM Hudbay Minerals	Reiterated Rating	C$9.00	C$15.00	Outperform	N/A
10/12/2021	LUN Lundin Mining	Reiterated Rating	C$11.00	C$14.00	Neutral	N/A
10/12/2021	LGO Largo Resources	Reiterated Rating	C$14.00	C$25.00	Outperform	N/A
10/12/2021	ERO Ero Copper	Reiterated Rating	C$26.00	C$33.50	Hold	N/A
10/12/2021	FM First Quantum Minerals	Reiterated Rating	C$30.00	C$38.50	Outperform	N/A
10/12/2021	TECK.B Teck Resources	Reiterated Rating	C$36.00	C$33.50	Neutral	N/A
10/12/2021	MTY MTY Food Group	Boost Price Target	C$64.00	C$74.00 ➝ C$84.00	Outperform	N/A
10/8/2021	SMT Sierra Metals	Reiterated Rating	C$3.00	C$5.25	Outperform	N/A
10/8/2021	EDR Endeavour Silver	Reiterated Rating	C$6.00	C$8.25	Neutral	N/A
10/8/2021	BIREF Birchcliff Energy	Reiterated Rating	$6.00	$6.50	Buy	Medium
10/8/2021	LQSIF Alcanna	Boost Price Target	C$7.00	C$7.50 ➝ C$8.75	Neutral	High
10/8/2021	DPMLF Dundee Precious Metals	Reiterated Rating	$7.00	$11.50	Buy	Low
10/8/2021	BIR Birchcliff Energy	Reiterated Rating	C$7.00	C$6.50	Buy	N/A
10/8/2021	CLIQ Alcanna	Boost Price Target	C$8.00	C$7.50 ➝ C$8.75	Neutral	N/A
10/8/2021	DPM Dundee Precious Metals	Reiterated Rating	C$8.00	C$11.50	Buy	N/A
10/8/2021	GATO Gatos Silver	Lower Price Target	$12.00	$24.00 ➝ $20.50	Outperformer	Medium
10/8/2021	TORXF Torex Gold Resources	Reiterated Rating	$12.00	$22.00	Hold	Low
10/8/2021	TLRY Tilray	Lower Price Target	$10.00	$14.00 ➝ $12.00	Neutral	High