CIBC price target raised to C$96 from C$94 at Barclays

Barclays raised the firm’s price target on CIBC (CM) to C$96 from C$94 and keeps an Underweight rating on the shares. The firm expects the Canadian banks to report improved sequential earnings in Q3 on a decline in losses on performing loans and higher net interest income. While the banks should reiterate 2025 outlooks, concerns on tariffs and mortgage renewals will persist, the analyst tells investors in a research note.