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
3/27/2025	DOO BRP	Lower Price Target	C$51.00	C$82.00 ➝ C$64.00		N/A
3/25/2025	CNR Canadian National Railway	Lower Price Target	C$143.00	C$162.00 ➝ C$157.00	Neutral	N/A
3/25/2025	CP Canadian Pacific Kansas City	Lower Price Target	C$103.00	C$128.00 ➝ C$124.00	Outperform	N/A
3/25/2025	DIV Diversified Royalty	Boost Price Target	C$3.00	C$3.00 ➝ C$3.10	Neutral	N/A
3/24/2025	DNTL dentalcorp	Boost Price Target	C$8.00	C$11.50 ➝ C$13.00	Outperform	N/A
3/20/2025	AOCIF AutoCanada	Reiterated Rating	$11.00		Underperform ➝ Underperform	Low
3/20/2025	CGAU Centerra Gold	Reiterated Rating	$6.00		Neutral ➝ Neutral	Low
3/20/2025	IAG IAMGOLD	Reiterated Rating	$6.00		Outperform ➝ Outperform	Low
3/20/2025	IAG IAMGOLD	Boost Price Target	$6.00	$7.60 ➝ $8.40	Outperformer ➝ Outperformer	Medium
3/20/2025	BTG B2Gold	Boost Price Target	$3.00	$3.30 ➝ $3.60	Neutral ➝ Neutral	Low
3/20/2025	ATD Alimentation Couche-Tard	Lower Price Target	C$70.00	C$87.00 ➝ C$85.00	Outperform	N/A
3/20/2025	ACQ AutoCanada	Lower Price Target	C$17.00	C$17.00 ➝ C$15.00	Underperform	N/A
3/20/2025	BYD Boyd Group Services	Boost Price Target	C$216.00	C$281.00 ➝ C$286.00	Outperform	N/A
3/20/2025	CG Centerra Gold	Boost Price Target	C$9.00	C$9.80 ➝ C$10.30	Neutral	N/A
3/20/2025	LUG Lundin Gold	Downgrade	C$44.00	C$41.00 ➝ C$44.00	Outperform ➝ Neutral	N/A
3/19/2025	OLA Orla Mining	Boost Price Target	C$13.00	C$11.50 ➝ C$13.75	Outperform	N/A
3/18/2025	QTRH Quarterhill	Lower Price Target	C$1.00	C$2.30 ➝ C$2.00	Outperform	N/A
3/17/2025	ADEN ADENTRA	Lower Price Target	C$28.00	C$49.00 ➝ C$44.00	Outperform	N/A
3/17/2025	NFI NFI Group	Boost Price Target	C$12.00	C$19.00 ➝ C$20.00	Outperform	N/A
3/14/2025	BDT Bird Construction	Lower Price Target	C$22.00	C$36.00 ➝ C$31.00		N/A
3/14/2025	ATZ Aritzia	Lower Price Target	C$53.00	C$1.80 ➝ C$1.20	Underperform	N/A
3/14/2025	WPM Wheaton Precious Metals	Boost Price Target	C$110.00	C$85.00 ➝ C$88.00	Outperform	N/A
3/13/2025	BIR Birchcliff Energy	Upgrade	C$7.00	C$7.00 ➝ C$8.00	Neutral ➝ Outperform	N/A
3/11/2025	BOS AirBoss of America	Lower Price Target	C$4.00	C$5.00 ➝ C$4.75	Neutral	N/A
3/10/2025	CFX Canfor Pulp Products	Lower Price Target	C$1.00	C$1.25 ➝ C$1.00		N/A
3/10/2025	CSU Constellation Software	Boost Price Target	C$4,662.00	C$5,300.00 ➝ C$5,450.00		N/A
3/10/2025	FFH Fairfax Financial	Boost Price Target	C$2,052.00	C$2,400.00 ➝ C$2,500.00		N/A
3/7/2025	SOBO South Bow	Downgrade	$26.00	$25.00	Sector Outperform ➝ Neutral	Medium
3/7/2025	ARE Aecon Group	Lower Price Target	C$17.00	C$33.00 ➝ C$30.00		N/A
3/7/2025	AFN Ag Growth International	Lower Price Target	C$35.00	C$56.00 ➝ C$48.00	Outperform	N/A
3/7/2025	APR.UN Automotive Properties Real Est Invt TR	Lower Price Target	C$10.00	C$13.00 ➝ C$12.50	Outperform	N/A
3/7/2025	BDGI Badger Infrastructure Solutions	Boost Price Target	C$40.00	C$55.00 ➝ C$59.00	Outperform	N/A
3/7/2025	GCG Guardian Capital Group	Boost Price Target	C$41.00	C$44.00 ➝ C$47.00	Neutral	N/A
3/7/2025	MI.UN Minto Apartment Real Estate Invt Trust	Lower Price Target	C$14.00	C$20.00 ➝ C$18.00	Outperform	N/A
3/7/2025	PKI Parkland	Boost Price Target	C$36.00	C$49.00 ➝ C$50.00	Outperform	N/A
3/6/2025	TD Toronto-Dominion Bank	Lower Price Target	C$87.00	C$96.00 ➝ C$95.00		N/A
3/6/2025	DSGX The Descartes Systems Group	Lower Price Target	$101.00	$128.00 ➝ $127.00	Outperform	High
3/5/2025	RY Royal Bank of Canada	Reiterated Rating	$114.00		Neutral ➝ Neutral	Low
3/5/2025	NTIOF National Bank of Canada	Reiterated Rating	$84.00		Neutral ➝ Neutral	Low
3/5/2025	ENB Enbridge	Reiterated Rating	$44.00		Outperform ➝ Outperform	Low
3/5/2025	MGA Magna International	Lower Price Target	$35.00	$44.00 ➝ $36.50	Neutral ➝ Neutral	High
3/5/2025	WM Waste Management	Boost Price Target	$229.00	$227.00 ➝ $247.00	Neutral ➝ Neutral	Low
3/5/2025	BMO Bank of Montreal	Lower Price Target	C$139.00	C$156.00 ➝ C$152.00		N/A
3/5/2025	ENB Enbridge	Boost Price Target	C$64.00	C$66.00 ➝ C$67.00		N/A
3/5/2025	LNR Linamar	Downgrade	C$52.00	C$82.00 ➝ C$55.00	Outperform ➝ Neutral	N/A
3/5/2025	MRE Martinrea International	Downgrade	C$7.00	C$14.00 ➝ C$9.00	Outperform ➝ Neutral	N/A
3/5/2025	NA National Bank of Canada	Lower Price Target	C$120.00	C$135.00 ➝ C$127.00		N/A
3/5/2025	PET Pet Valu	Boost Price Target	C$27.00	C$29.00 ➝ C$33.00		N/A
3/5/2025	RY Royal Bank of Canada	Lower Price Target	C$164.00	C$175.00 ➝ C$167.00		N/A
3/5/2025	BNS Bank of Nova Scotia	Lower Price Target	C$69.00	C$81.00 ➝ C$75.00		N/A
3/4/2025	CIGI Colliers International Group	Initiated Coverage	$123.00	$160.00	Sector Outperform	Low
3/4/2025	DBM Doman Building Materials Group	Lower Price Target	C$7.00	C$11.50 ➝ C$9.50	Outperform	N/A
3/4/2025	RSG Republic Services	Upgrade	$240.00	$264.00	Neutral ➝ Sector Outperform	Low
3/4/2025	WMB Williams Companies	Boost Price Target	$59.00	$56.00 ➝ $57.00	Neutral ➝ Neutral	Medium
3/3/2025	CSH.UN Chartwell Retirement Residences	Boost Price Target	C$17.00	C$19.00 ➝ C$20.00		N/A
2/28/2025	ACO.X ATCO	Boost Price Target	C$49.00	C$58.00 ➝ C$59.00		N/A
2/28/2025	BYD Boyd Group Services	Boost Price Target	C$216.00	C$276.00 ➝ C$281.00		N/A
2/28/2025	KXS Kinaxis	Lower Price Target	C$157.00	C$175.00 ➝ C$170.00		N/A
2/28/2025	NPI Northland Power	Lower Price Target	C$20.00	C$29.00 ➝ C$28.00		N/A
2/28/2025	SIA Sienna Senior Living	Lower Price Target	C$16.00	C$19.00 ➝ C$18.00		N/A
2/28/2025	TD Toronto-Dominion Bank	Boost Price Target	C$87.00	C$94.00 ➝ C$96.00		N/A
2/28/2025	WPK Winpak	Lower Price Target	C$40.00	C$54.00 ➝ C$49.00		N/A
2/28/2025	WSP WSP Global	Boost Price Target	C$249.00	C$293.00 ➝ C$295.00		N/A
2/27/2025	EDV Endeavour Mining	Downgrade	C$34.00	C$41.00 ➝ C$37.00	Outperform ➝ Neutral	N/A
2/27/2025	FSZ Fiera Capital	Lower Price Target	C$6.00	C$9.00 ➝ C$6.75	Neutral	N/A
2/27/2025	WN George Weston	Lower Price Target	C$239.00	C$269.00 ➝ C$268.00	Outperform	N/A
2/27/2025	NGD New Gold	Lower Price Target	$4.00	$3.60 ➝ $3.40	Outperform	Medium
2/26/2025	BMO Bank of Montreal	Boost Price Target	C$139.00	C$154.00 ➝ C$156.00	Outperform	N/A
2/26/2025	IIP.UN InterRent Real Estate Investment Trust	Lower Price Target	C$11.00	C$15.00 ➝ C$13.50	Outperform	N/A
2/26/2025	MFI Maple Leaf Foods	Boost Price Target	C$25.00	C$30.00 ➝ C$32.00	Outperform	N/A
2/26/2025	OLA Orla Mining	Boost Price Target	C$13.00	C$11.00 ➝ C$11.50		N/A
2/26/2025	PET Pet Valu	Lower Price Target	C$27.00	C$31.00 ➝ C$29.00	Outperform	N/A
2/26/2025	STN Stantec	Boost Price Target	C$119.00	C$134.00 ➝ C$139.00	Outperform	N/A
2/25/2025	NTR Nutrien	Boost Price Target	$51.00	$64.00 ➝ $66.00	Outperformer ➝ Outperformer	Low
2/25/2025	ATD Alimentation Couche-Tard	Lower Price Target	C$70.00	C$89.00 ➝ C$87.00	Outperform	N/A
2/25/2025	CCL.B CCL Industries	Lower Price Target	C$70.00	C$97.00 ➝ C$96.00	Outperform	N/A
2/25/2025	SLF Sun Life Financial	Lower Price Target	C$82.00	C$95.00 ➝ C$94.00	Outperform	N/A
2/24/2025	BEI.UN Boardwalk Real Estate Investment Trust	Lower Price Target	C$67.00	C$86.00 ➝ C$80.00		N/A
2/24/2025	EMA Emera	Boost Price Target	C$59.00	C$58.00 ➝ C$59.00		N/A
2/24/2025	SVI StorageVault Canada	Lower Price Target	C$4.00	C$5.00 ➝ C$4.75		N/A
2/21/2025	TFII TFI International	Lower Price Target	$81.00	$160.00 ➝ $141.00	Outperformer ➝ Outperformer	High
2/21/2025	AGI Alamos Gold	Boost Price Target	C$38.00	C$44.00 ➝ C$46.00		N/A
2/21/2025	AIF Altus Group	Lower Price Target	C$52.00	C$60.00 ➝ C$57.00		N/A
2/21/2025	CHR Chorus Aviation	Boost Price Target	C$20.00	C$26.00 ➝ C$28.00		N/A
2/21/2025	L Loblaw Companies	Boost Price Target	C$197.00	C$206.00 ➝ C$208.00		N/A
2/21/2025	MFC Manulife Financial	Boost Price Target	C$45.00	C$47.00 ➝ C$48.00		N/A
2/21/2025	TXG Torex Gold Resources	Boost Price Target	C$38.00	C$36.00 ➝ C$42.00		N/A
2/20/2025	GEI Gibson Energy	Lower Price Target	C$22.00	C$29.00 ➝ C$27.00	Outperform	N/A
2/20/2025	GIL Gildan Activewear	Boost Price Target	$45.00	$56.00 ➝ $60.00	Outperform	Low
2/20/2025	IAG iA Financial	Boost Price Target	C$137.00	C$144.00 ➝ C$149.00	Outperform	N/A
2/20/2025	SSL Sandstorm Gold	Lower Price Target	C$11.00	C$10.00 ➝ C$9.50	Neutral	N/A
2/19/2025	SSRM SSR Mining	Boost Price Target	$11.00	$8.25 ➝ $9.75	Neutral ➝ Neutral	High
2/19/2025	CJT Cargojet	Lower Price Target	C$86.00	C$177.00 ➝ C$163.00		N/A
2/19/2025	NWC North West	Set Price Target	C$49.00	C$59.00	Outperform	N/A
2/19/2025	POU Paramount Resources	Lower Price Target	C$19.00	C$39.50 ➝ C$24.50		N/A
2/18/2025	TAC TransAlta	Upgrade	$10.00	$23.00 ➝ $19.50	Neutral ➝ Outperformer	Medium
2/18/2025	BNS Bank of Nova Scotia	Reiterated Rating	$48.00		Sector Outperform ➝ Neutral	Low
2/18/2025	FSM Fortuna Silver Mines	Downgrade	$6.00		Neutral ➝ Sector Underperform	Medium
2/18/2025	AC Air Canada	Lower Price Target	C$15.00	C$28.00 ➝ C$24.00		N/A
2/18/2025	BMO Bank of Montreal	Boost Price Target	C$139.00	C$150.00 ➝ C$154.00		N/A