CIBC Stock Recommendations and Price Targets

This is a list of recent ratings by CIBC.

Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
BNS The Bank of Nova Scotia	Boost Price Target	$61.00	$83.00	Neutral	High
BMO Bank of Montreal (BMO.TO)	Boost Price Target	C$108.00	C$116.00 ➝ C$120.00		N/A
BNS The Bank of Nova Scotia (BNS.TO)	Boost Price Target	C$76.00	C$72.00 ➝ C$83.00		N/A
LNF Leon's Furniture	Boost Price Target	C$21.00	C$21.50 ➝ C$23.50	Neutral	N/A
NPI Northland Power	Lower Price Target	C$43.00	C$52.00 ➝ C$51.00		N/A
JE Just Energy Group	Reiterated Rating	C$5.00	C$10.00	Neutral ➝ Underperform	N/A
PKI Parkland	Lower Price Target	C$39.00	C$51.00 ➝ C$48.00		N/A
PKIUF Parkland	Lower Price Target	$31.00	$51.00 ➝ $48.00	Outperform	High
TRI Thomson Reuters	Upgrade	$89.00		Neutral ➝ Outperform	Medium
CRON Cronos Group	Downgrade	$11.00	$8.00 ➝ $12.50	Outperform ➝ Neutral	Low
IPPLF Inter Pipeline	Downgrade	$14.00		Outperform ➝ Neutral	Low
JE Just Energy Group	Downgrade	$4.00		Neutral ➝ Underperform	High
APHA Aphria	Boost Price Target	$20.00	$18.00 ➝ $28.00	Outperform	High
CPXWF Capital Power	Boost Price Target	$28.00	$38.00 ➝ $39.00	Neutral	High
CHRRF Chorus Aviation	Lower Price Target	$3.00	$5.50 ➝ $5.25	Outperform	Medium
CPXGF Cineplex	Boost Price Target	$11.00	$12.00 ➝ $14.00	Neutral	High
ERF Enerplus	Boost Price Target	$5.00	$6.50 ➝ $7.00	Outperform	Low
OGI OrganiGram	Boost Price Target	$3.00	$2.25 ➝ $4.25	Neutral	High
CPG Crescent Point Energy	Boost Price Target	$4.00	$4.50 ➝ $5.50	Outperform	Low
DIR.UN Dream Industrial Real Estate Invest Trst	Boost Price Target	C$13.00	C$14.25 ➝ C$14.50	Outperform	N/A
CPG Crescent Point Energy	Boost Price Target	C$5.00	C$4.50 ➝ C$5.50	Outperform	N/A
CTC.A Canadian Tire	Boost Price Target	C$167.00	C$198.00 ➝ C$202.00		N/A
CCL.B CCL Industries	Boost Price Target	C$65.00	C$70.00 ➝ C$72.00	Outperform	N/A
MAV MAV Beauty Brands Inc. (MAV.TO)	Boost Price Target	C$6.00	C$5.50 ➝ C$7.50		N/A
MTY MTY Food Group Inc. (MTY.TO)	Lower Price Target	C$54.00	C$65.00 ➝ C$63.00		N/A
PEY Peyto Exploration & Development	Boost Price Target	C$6.00	C$4.00 ➝ C$6.00		N/A
TRP TC Energy Co. (TRP.TO)	Boost Price Target	C$56.00	C$69.00 ➝ C$70.00	Outperform	N/A
CDNAF Canadian Tire	Boost Price Target	$134.00	$198.00 ➝ $202.00	Outperform	Low
CCDBF CCL Industries	Boost Price Target	$52.00	$70.00 ➝ $72.00	Outperform	Low
MAVBF MAV Beauty Brands	Boost Price Target	$5.00	$5.50 ➝ $7.50		Low
MTYFF MTY Food Group	Lower Price Target	$42.00	$65.00 ➝ $63.00	Outperform	Low
PEYUF Peyto Exploration & Development	Boost Price Target	$5.00	$4.00 ➝ $6.00	Neutral	Low
SMMCF Summit Industrial Income REIT	Boost Price Target	$11.00	$14.25 ➝ $15.00	Neutral	Low
TRP TC Energy	Boost Price Target	$45.00	$69.00 ➝ $70.00	Outperform	Low
CM Canadian Imperial Bank of Commerce	Boost Price Target	$94.00	$124.00 ➝ $126.00	Sector Perform	Low
DREUF Dream Industrial Real Estate Investment Trust	Boost Price Target	$10.00	$14.25 ➝ $14.50	Outperform	Low
HEXO HEXO Corp. (HEXO.TO)	Boost Price Target	C$10.00		NA	N/A
HEXO HEXO	Upgrade	$8.00		Neutral ➝ Sector Outperform	Low
CSU Constellation Software	Lower Price Target	C$1,698.00	C$1,760.00	Sector Perform	N/A
ENB Enbridge	Lower Price Target	C$45.00	C$52.00	Outperform	N/A
AC Air Canada (AC.TO)	Lower Price Target	C$26.00	C$28.00	Sector Perform	N/A
ACB Aurora Cannabis Inc. (ACB.TO)	Boost Price Target	C$15.00	C$18.50	Underperform	N/A
ACDVF Air Canada	Lower Price Target	$21.00	$31.00 ➝ $28.00	Outperform	Low
ACB Aurora Cannabis	Boost Price Target	$12.00	$17.00 ➝ $18.50	Neutral	Low
CNSWF Constellation Software	Lower Price Target	$1,359.00	$1,865.00 ➝ $1,760.00	Outperform	Low
ENB Enbridge	Lower Price Target	$36.00	$53.00 ➝ $52.00	Outperform	Low
MFC Manulife Financial	Downgrade	$20.00		Outperform ➝ Neutral	Low
CTC.A Canadian Tire	Boost Price Target	C$167.00	C$173.00 ➝ C$198.00		N/A
RIV Canopy Rivers	Boost Price Target	C$3.00	C$1.60 ➝ C$4.00		N/A
FCR.UN First Capital Realty	Boost Price Target	C$16.00	C$18.00 ➝ C$18.50		N/A
IPL Inter Pipeline	Upgrade	C$18.00	C$13.50 ➝ C$17.00	Neutral ➝ Outperform	N/A
TSU Trisura Group	Boost Price Target	C$126.00	C$110.00 ➝ C$130.00		N/A
MFC Manulife Financial	Reiterated Rating	C$26.00	C$25.50 ➝ C$26.00	Outperform ➝ Outperform	N/A
BIR Birchcliff Energy Ltd. (BIR.TO)	Boost Price Target	C$3.00	C$2.50 ➝ C$3.75		N/A
CHP.UN Choice Properties Real Est Invstmnt Trst	Boost Price Target	C$13.00	C$13.50 ➝ C$14.00	Sector Perform	N/A
CIX CI Financial Corp (CIX.TO)	Boost Price Target	C$18.00	C$18.50 ➝ C$20.00		N/A
GWO Great-West Lifeco	Boost Price Target	C$32.00	C$34.00 ➝ C$36.50		N/A
KMP.UN Killam Apartment REIT	Boost Price Target	C$18.00	C$21.50 ➝ C$22.50		N/A
SLF Sun Life Financial Inc. (SLF.TO)	Boost Price Target	C$63.00	C$64.00 ➝ C$69.00		N/A
TIH Toromont Industries Ltd. (TIH.TO)	Boost Price Target	C$91.00	C$92.00 ➝ C$95.00		N/A
RIV Canopy Rivers	Boost Price Target	C$3.00	C$1.60 ➝ C$4.00		N/A
BIREF Birchcliff Energy	Boost Price Target	$3.00	$2.50 ➝ $3.75	Outperform	Low
PPRQF Choice Properties Real Estate Investment Trust	Boost Price Target	$10.00	$13.50 ➝ $14.00	Neutral	Low
CIXX CI Financial	Boost Price Target	$14.00	$18.50 ➝ $20.00	Neutral	Low
GWLIF Great-West Lifeco	Boost Price Target	$26.00	$34.00 ➝ $36.50	Outperform	Low
IAFNF iA Financial	Boost Price Target	$50.00	$65.00 ➝ $71.00	Outperform	Low
KMMPF Killam Apartment Real Estate Investment Trust	Boost Price Target	$14.00	$21.50 ➝ $22.50	Outperform	Low
SLF Sun Life Financial	Boost Price Target	$51.00	$64.00 ➝ $69.00	Neutral	Low
TMTNF Toromont Industries	Boost Price Target	$73.00	$92.00 ➝ $95.00	Neutral	Low
IPPLF Inter Pipeline	Upgrade	$14.00		Neutral ➝ Outperform	Low
CDNAF Canadian Tire	Boost Price Target	$134.00	$173.00 ➝ $198.00	Outperform	Low
CNPOF Canopy Rivers	Boost Price Target	$3.00	$1.60 ➝ $4.00	Outperform	Low
TRRSF Trisura Group	Boost Price Target	$99.00	$110.00 ➝ $130.00	Outperform	Low
T AT&T	Reiterated Rating	$29.00		Buy	Low
CGC Canopy Growth	Boost Price Target	$36.00	$32.00 ➝ $64.00	Neutral	Low
CTRRF CT Real Estate Investment Trust	Boost Price Target	$12.00	$15.00 ➝ $16.00	Neutral	Low
WEED Canopy Growth	Boost Price Target	C$45.00	C$32.00 ➝ C$64.00		N/A
CRT.UN CT Real Estate Investment Trust	Boost Price Target	C$15.00	C$15.00 ➝ C$16.00	Sector Perform	N/A
DPMLF Dundee Precious Metals	Reiterated Rating	$7.00		Outperform	Low
POU Paramount Resources	Boost Price Target	C$12.00	C$6.50 ➝ C$9.00		N/A
PSK PrairieSky Royalty	Boost Price Target	C$13.00	C$13.50 ➝ C$14.00		N/A
CAGDF Centerra Gold	Downgrade	$11.00		Outperform ➝ Neutral	Low
AGI Alamos Gold	Lower Price Target	C$10.00	C$19.25 ➝ C$16.00		N/A
ACB Aurora Cannabis Inc. (ACB.TO)	Boost Price Target	C$15.00	C$15.00 ➝ C$17.00		N/A
CG Centerra Gold Inc. (CG.TO)	Downgrade	C$14.00	C$19.00 ➝ C$16.50	Outperform ➝ Neutral	N/A
DPM Dundee Precious Metals Inc. (DPM.TO)	Lower Price Target	C$8.00	C$14.25 ➝ C$12.50	Outperform	N/A
EDV Endeavour Mining	Lower Price Target	C$26.00	C$61.00 ➝ C$46.00		N/A
EDR Endeavour Silver	Lower Price Target	C$8.00	C$7.75 ➝ C$7.25		N/A
FVI Fortuna Silver Mines Inc. (FVI.TO)	Lower Price Target	C$11.00	C$11.50 ➝ C$11.25		N/A
FNV Franco-Nevada	Lower Price Target	C$142.00	C$251.50 ➝ C$230.00		N/A
KL Kirkland Lake Gold	Lower Price Target	C$45.00	C$95.50 ➝ C$77.50		N/A
LUG Lundin Gold	Lower Price Target	C$10.00	C$16.50 ➝ C$15.00	NA	N/A
OGC OceanaGold Co. (OGC.TO)	Boost Price Target	C$2.00	C$2.65 ➝ C$2.85		N/A
OR Osisko Gold Royalties	Lower Price Target	C$14.00	C$21.00 ➝ C$19.50		N/A
PVG Pretium Resources	Lower Price Target	C$13.00	C$19.00 ➝ C$16.00		N/A
SSL Sandstorm Gold	Lower Price Target	C$8.00	C$16.75 ➝ C$13.50		N/A
TXG Torex Gold Resources	Lower Price Target	C$17.00	C$28.50 ➝ C$26.50		N/A
T TELUS Co. (T.TO)	Reiterated Rating	C$25.00		Outperform	N/A
AGI Alamos Gold	Lower Price Target	$8.00	$19.25 ➝ $16.00	Outperform	Low
ACB Aurora Cannabis	Boost Price Target	$12.00	$15.00 ➝ $17.00	Neutral	High