TD Securities maintained its Buy rating on Canadian Imperial Bank of Commerce with a 12-month target price of $142.00 per share. The firm’s stance reflects confidence in CIBC’s earnings durability, particularly its momentum in capital markets and wealth management, where trading activity and advisory revenues have remained firm. TD also sees support from stable net interest margins, ongoing expense discipline, and a well-capitalized balance sheet that provides flexibility to manage credit normalization. While provisions for credit losses may trend higher industry-wide, the bank’s diversified revenue base and solid CET1 ratio position it to navigate a moderating economic backdrop.
Scotiabank maintained its Sector Outperform rating on Canadian Imperial Bank of Commerce with a C$138.00 target price. The rating reflects CIBC’s competitive positioning among Canadian peers, supported by a balanced mix of personal and commercial banking, capital markets, and wealth operations. Scotiabank highlighted disciplined underwriting standards, prudent capital deployment, and improving operating leverage as key pillars of its outlook. The firm also views CIBC’s strategic focus on efficiency initiatives and cross-selling within its core Canadian franchise as constructive drivers of medium-term return on equity stability, even as macro risks and potential credit headwinds remain on the radar.
