CIBC price target raised to C$114 from C$108 at Scotiabank

Scotiabank raised the firm’s price target on CIBC (CM) to C$114 from C$108 and keeps an Outperform rating on the shares following the Q4 beat. The firm says 2024 “has proven to be a year of redemption for CIBC” via a combination of earnings consistency and good credit management.