BofA raised the firm’s price target on CIBC (CM) to C$114 from C$110 and keeps a Buy rating on the shares. Q3 core EPS surpassed BofA and consensus estimates, driven by stronger pre-tax pre provision income, the analyst tells investors. The firm raised its FY26 and FY27 EPS estimates 2.7% and 3.8%, respectively, after the report as it expects margins in the U.S. and Canadian segments to “continue to drift higher” following the Q3 beat.
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