The Globe and Mail reports in its Tuesday, June 10, edition that RBC Dominion Securities analyst Darko Mihelic thinks Canadian bank investors "may be indifferent to shorter term uncertainty." The Globe's David Leeder writes in the Eye On Equities column that Mr. Mihelic says in a note: "Shorter term we share a sense of unease regarding significant macro-economic uncertainty but we refrain from making large estimate changes in the absence of significant evidence that provisions for credit losses (PCLs) must spike materially higher. Modelling under the assumption that the North American economy can rebound by 2027 we see significant EPS/ROE upside in 2027 under more 'normalized' PCLs. This is not an attempt to justify current valuations, just a reflection of a typical PCL cycle for banks." On Monday, Mr. Mihelic made modest reductions to his forecasts for large Canadian banks, lowering 2025 core earnings per share estimates by 0.3 per cent on average, while increasing 2027 projections by 5 per cent. With updates to his forecast, Mr. Mihelic cut his share target for Canadian Imperial Bank of Commerce to $112 from $116. Mr. Mihelic continues to rate the shares "outperform." Analysts on average target the shares at $100.75.