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
8/12/2022	AFN Ag Growth International	Boost Price Target	C$40.00	C$51.00 ➝ C$52.00	Outperform	N/A
8/12/2022	AIF Altus Group	Boost Price Target	C$56.00	C$54.00 ➝ C$58.00	Neutral	N/A
8/12/2022	BDGI Badger Infrastructure Solutions	Boost Price Target	C$32.00	C$31.50 ➝ C$32.00	Neutral	N/A
8/12/2022	GOOS Canada Goose	Lower Price Target	C$29.00	C$37.00 ➝ C$36.00	Neutral	N/A
8/12/2022	CAR.UN Canadian Apartment Properties REIT	Lower Price Target	C$48.00	C$55.00 ➝ C$54.00	Neutral	N/A
8/12/2022	CHE.UN Chemtrade Logistics Income Fund	Boost Price Target	C$9.00	C$9.50 ➝ C$11.00	Outperform	N/A
8/12/2022	ECN ECN Capital	Boost Price Target	C$7.00	C$7.50 ➝ C$8.75	Outperform	N/A
8/12/2022	FSZ Fiera Capital	Boost Price Target	C$10.00	C$10.00 ➝ C$10.50	Neutral	N/A
8/12/2022	FVI Fortuna Silver Mines	Lower Price Target	C$3.00	C$5.50 ➝ C$5.00	Neutral	N/A
8/12/2022	GRT.UN Granite Real Estate Investment Trust	Lower Price Target	C$82.00	C$102.00 ➝ C$98.00	Outperform	N/A
8/12/2022	MTY MTY Food Group	Boost Price Target	C$62.00	C$68.00 ➝ C$75.00	Outperform	N/A
8/12/2022	ONEX Onex	Boost Price Target	C$71.00	C$75.00 ➝ C$80.00	Neutral	N/A
8/12/2022	QTRH Quarterhill	Lower Price Target	C$2.00	C$4.00 ➝ C$3.50	Outperform	N/A
8/12/2022	SSL Sandstorm Gold	Lower Price Target	C$8.00	C$13.50 ➝ C$12.50	Outperform	N/A
8/12/2022	SJ Stella-Jones	Boost Price Target	C$41.00	C$41.00 ➝ C$46.00	Outperform	N/A
8/12/2022	TCN Tricon Residential	Boost Price Target	C$15.00	C$20.50 ➝ C$21.00	Outperform	N/A
8/11/2022	HOT.UN American Hotel Income Properties REIT	Lower Price Target	C$4.00	C$3.80 ➝ C$3.35	Neutral	N/A
8/11/2022	AND Andlauer Healthcare Group	Boost Price Target	C$54.00	C$53.00 ➝ C$59.00	Neutral	N/A
8/11/2022	BEI.UN Boardwalk REIT	Lower Price Target	C$51.00	C$58.00 ➝ C$56.00	Neutral	N/A
8/11/2022	BYD Boyd Group Services	Boost Price Target	C$193.00	C$156.00 ➝ C$194.00	Neutral	N/A
8/11/2022	CAE CAE	Lower Price Target	C$28.00	C$41.00 ➝ C$35.00	Outperform	N/A
8/11/2022	CG Centerra Gold	Lower Price Target	C$7.00	C$14.25 ➝ C$8.25	Neutral	N/A
8/11/2022	CTS Converge Technology Solutions	Boost Price Target	C$7.00	C$7.00 ➝ C$8.00	Neutral	N/A
8/11/2022	CTS Converge Technology Solutions	Boost Price Target	C$7.00	C$7.00 ➝ C$8.00	Neutral	N/A
8/11/2022	CPLF Copperleaf Technologies	Lower Price Target	C$7.00	C$11.00 ➝ C$9.00	Neutral	N/A
8/11/2022	EFN Element Fleet Management	Boost Price Target	C$17.00	C$15.50 ➝ C$17.00	Outperform	N/A
8/11/2022	FNV Franco-Nevada	Lower Price Target	C$170.00	C$260.00 ➝ C$230.00	Outperform	N/A
8/11/2022	KXS Kinaxis	Boost Price Target	C$165.00	C$180.00 ➝ C$190.00	Outperform	N/A
8/11/2022	LNR Linamar	Boost Price Target	C$65.00	C$71.00 ➝ C$80.00	Outperform	N/A
8/11/2022	MRU Metro	Lower Price Target	C$71.00	C$73.00 ➝ C$71.00	Neutral	N/A
8/11/2022	MI.UN Minto Apartment Real Estate Invt Trust	Lower Price Target	C$16.00	C$23.00 ➝ C$22.00	Outperform	N/A
8/11/2022	SDE Spartan Delta	Boost Price Target	C$14.00	C$18.00 ➝ C$19.50	Outperform	N/A
8/11/2022	TRP TC Energy	Upgrade	C$65.00	C$74.00 ➝ C$75.00	Neutral ➝ Outperform	N/A
8/10/2022	NVEI Nuvei	Downgrade	$35.00		Sector Outperform ➝ Neutral	Low
8/10/2022	CRT.UN CT Real Estate Investment Trust	Lower Price Target	C$17.00	C$18.00 ➝ C$17.50	Neutral	N/A
8/10/2022	EINC E Automotive	Lower Price Target	C$7.00	C$17.00 ➝ C$14.00	Outperform	N/A
8/10/2022	EQX Equinox Gold	Lower Price Target	C$8.00	C$5.75 ➝ C$5.30	Underperform	N/A
8/10/2022	FRU Freehold Royalties	Lower Price Target	C$14.00	C$19.00 ➝ C$18.00	Neutral	N/A
8/10/2022	IIP.UN Interrent Real Estate Investment Trust	Lower Price Target	C$13.00	C$15.50 ➝ C$15.00	Neutral	N/A
8/10/2022	OR Osisko Gold Royalties	Lower Price Target	C$14.00	C$23.00 ➝ C$21.00	Outperform	N/A
8/10/2022	REI.UN RioCan Real Estate Investment Trust	Lower Price Target	C$21.00	C$25.00 ➝ C$24.00		N/A
8/9/2022	MRE Martinrea International	Boost Price Target	C$11.00	C$9.75 ➝ C$10.50	Neutral	N/A
8/8/2022	BOS AirBoss of America	Lower Price Target	C$15.00	C$32.00 ➝ C$29.00	Outperform	N/A
8/8/2022	CHR Chorus Aviation	Lower Price Target	C$3.00	C$5.25 ➝ C$4.75	Outperform	N/A
8/8/2022	DFY Definity Financial	Downgrade	C$38.00	C$39.50	Outperform ➝ Neutral	N/A
8/8/2022	D.UN Dream Office Real Estate Investment Trst	Lower Price Target	C$20.00	C$27.00 ➝ C$24.00		N/A
8/8/2022	IFP Interfor	Boost Price Target	C$34.00	C$40.00 ➝ C$42.00	Outperform	N/A
8/8/2022	PBH Premium Brands	Lower Price Target	C$101.00	C$113.00 ➝ C$106.00	Neutral	N/A
8/8/2022	RNW TransAlta Renewables	Boost Price Target	C$18.00	C$18.50 ➝ C$19.00		N/A
8/5/2022	BBD.B Bombardier, Inc. Class B	Boost Price Target	C$33.00	C$36.00 ➝ C$37.00	Neutral	N/A
8/5/2022	ERE.UN BSR Real Estate Investment Trust	Lower Price Target	C$4.00	C$5.35 ➝ C$4.75		N/A
8/5/2022	ISV Information Services	Boost Price Target	C$24.00	C$25.00 ➝ C$26.00		N/A
8/5/2022	LSPD Lightspeed Commerce	Lower Price Target	C$30.00	C$68.00 ➝ C$67.00	Outperform	N/A
8/5/2022	MFI Maple Leaf Foods	Lower Price Target	C$23.00	C$41.00 ➝ C$35.00	Outperform	N/A
8/5/2022	PLZ.UN Plaza Retail REIT	Lower Price Target	C$4.00	C$5.00 ➝ C$4.75	Neutral	N/A
8/5/2022	SAP Saputo	Boost Price Target	C$33.00	C$35.00 ➝ C$39.00	Outperform	N/A
8/5/2022	TSU Trisura Group	Boost Price Target	C$41.00	C$50.00 ➝ C$55.00	Outperform	N/A
8/3/2022	CPX Capital Power	Boost Price Target	C$50.00	C$49.00 ➝ C$50.00	Neutral	N/A
8/2/2022	ARE Aecon Group	Lower Price Target	C$12.00	C$16.00 ➝ C$14.00		N/A
8/2/2022	CJ Cardinal Energy	Boost Price Target	C$9.00	C$10.00 ➝ C$11.00		N/A
8/2/2022	CMMC Copper Mountain Mining	Lower Price Target	C$2.00	C$2.90 ➝ C$2.50		N/A
8/2/2022	DPM Dundee Precious Metals	Lower Price Target	C$7.00	C$11.50 ➝ C$10.00		N/A
8/2/2022	ENB Enbridge	Boost Price Target	C$56.00	C$60.00 ➝ C$61.00		N/A
8/2/2022	FM First Quantum Minerals	Lower Price Target	C$25.00	C$34.00 ➝ C$28.00		N/A
8/2/2022	WN George Weston	Boost Price Target	C$155.00	C$188.00 ➝ C$193.00		N/A
8/2/2022	LUN Lundin Mining	Lower Price Target	C$7.00	C$11.00 ➝ C$9.50		N/A
8/2/2022	PD Precision Drilling	Boost Price Target	C$86.00	C$115.00 ➝ C$120.00		N/A
8/2/2022	TECK.B Teck Resources	Lower Price Target	C$44.00	C$70.00 ➝ C$58.00		N/A
8/2/2022	WFG West Fraser Timber	Boost Price Target	C$122.00	C$124.00 ➝ C$156.00		N/A
7/29/2022	AP.UN Allied Properties Real Estate Investment	Lower Price Target	C$34.00	C$47.50 ➝ C$43.00	Outperform	N/A
7/29/2022	ACO.X ATCO	Boost Price Target	C$48.00	C$54.00 ➝ C$55.00		N/A
7/29/2022	CP Canadian Pacific Railway	Boost Price Target	C$104.00	C$106.00 ➝ C$110.00	Outperform	N/A
7/29/2022	TRP TC Energy	Downgrade	C$65.00	C$76.00 ➝ C$74.00	Outperform ➝ Neutral	N/A
7/28/2022	CTC.A Canadian Tire	Lower Price Target	C$163.00	C$222.00 ➝ C$216.00		N/A
7/28/2022	CJT Cargojet	Boost Price Target	C$152.00	C$207.00 ➝ C$210.00		N/A
7/28/2022	L Loblaw Companies	Boost Price Target	C$118.00	C$129.00 ➝ C$136.00		N/A
7/28/2022	MR.UN Melcor Real Estate Investment Trust	Lower Price Target	C$7.00	C$7.25 ➝ C$6.75		N/A
7/26/2022	ACQ AutoCanada	Lower Price Target	C$27.00	C$39.00 ➝ C$35.00	Outperform	N/A
7/26/2022	EFN Element Fleet Management	Boost Price Target	C$17.00	C$14.00 ➝ C$15.50	Outperform	N/A
7/22/2022	AOCIF AutoCanada	Boost Price Target	C$22.00	C$46.00 ➝ C$46.50		Low
7/22/2022	BYDGF Boyd Group Services	Lower Price Target	C$148.00	C$180.00 ➝ C$175.00		N/A
7/22/2022	LIMAF Linamar	Lower Price Target	C$52.00	C$90.00 ➝ C$85.00		Low
7/22/2022	MRETF Martinrea International	Lower Price Target	C$8.00	C$14.00 ➝ C$13.00		Low
7/22/2022	DFY Definity Financial	Lower Price Target	C$38.00	C$41.50 ➝ C$39.50	Outperform	N/A
7/22/2022	GWO Great-West Lifeco	Lower Price Target	C$32.00	C$38.00 ➝ C$35.00		N/A
7/22/2022	IAG iA Financial	Lower Price Target	C$73.00	C$75.00 ➝ C$73.00		N/A
7/22/2022	MTL Mullen Group	Boost Price Target	C$15.00	C$14.00 ➝ C$15.50		N/A
7/22/2022	SLF Sun Life Financial	Lower Price Target	C$62.00	C$67.00 ➝ C$65.00		N/A
7/21/2022	ALA AltaGas	Lower Price Target	C$29.00	C$34.00 ➝ C$32.00		N/A
7/21/2022	ACO.X ATCO	Boost Price Target	C$48.00	C$53.00 ➝ C$54.00		N/A
7/21/2022	BLX Boralex	Boost Price Target	C$48.00	C$46.00 ➝ C$47.00		N/A
7/21/2022	CU Canadian Utilities	Boost Price Target	C$41.00	C$40.00 ➝ C$41.00		N/A
7/21/2022	ENB Enbridge	Lower Price Target	C$56.00	C$61.00 ➝ C$60.00		N/A
7/21/2022	INE Innergex Renewable Energy	Boost Price Target	C$20.00	C$21.00 ➝ C$22.00		N/A
7/21/2022	KEY Keyera	Lower Price Target	C$32.00	C$37.00 ➝ C$26.00		N/A
7/21/2022	PPL Pembina Pipeline	Lower Price Target	C$48.00	C$54.00 ➝ C$50.00		N/A
7/21/2022	SPB Superior Plus	Lower Price Target	C$11.00	C$13.50 ➝ C$13.25		N/A
7/21/2022	TRP TC Energy	Lower Price Target	C$65.00	C$77.00 ➝ C$76.00		N/A
7/21/2022	TWM Tidewater Midstream and Infrastructure	Boost Price Target	C$1.00	C$2.00 ➝ C$2.05		N/A
7/21/2022	LCFS Tidewater Renewables	Lower Price Target	C$12.00	C$26.00 ➝ C$24.00		N/A