CIBC price target raised to C$128 from C$121 at National Bank

National Bank raised the firm’s price target on CIBC (CM) to C$128 from C$121 and keeps a Sector Perform rating on the shares. The company’s 2026 growth guidance was “surprisingly bullish”, and that target should be achievable via lower credit costs, positive operating leverage and capital deployment, the analyst tells investors in a research note.