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CIBC price target raised to C$116 from C$108 at RBC Capital

RBC Capital analyst Darko Mihelic raised the firm’s price target on CIBC (CM) to C$116 from C$108 and keeps an Outperform rating on the shares. The company’s Q2 results were stronger than expected across the segments with solid pre-provision, pre-tax earnings growth bolstered by capital markets, the analyst tells investors in a research note.

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