As previously reported, Scotiabank analyst Mike Rizvanovic assumed coverage of CIBC (CM) with an Outperform rating and C$98 price target while assuming coverage of six Canadian banks. The analyst is “generally constructive” on the Canadian banks despite elevated uncertainty in the macroeconomic outlook and lingering risks of a potential trade war, believing that the group is “as recession ready as it has ever been.”
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Read More on CM:
- CIBC assumed with an Outperform at Scotiabank
- CIBC Expands U.S. CDR Offerings to Enhance Global Investment Opportunities
- CIBC downgraded to Hold from Buy at Jefferies
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- CIBC price target lowered to C$95 from C$101 at National Bank