The Globe and Mail reports in its Wednesday, Nov. 26, edition that Scotia Capital analyst Mike Rizvanovic has reaffirmed his "sector perform" recommendation for Canadian Imperial Bank of Commerce. The Globe's David Leeder writes in the Eye On Equities column that Mr. Rizvanovic gave his share target a $2 boost to $123. Analysts on average target the shares at $116.17. Mr. Rizvanovic says in a note: "We expect another solid quarter from the large Canadian banks to end a very strong year, helped by still-elevated capital markets, which should land close to record levels in F2025, stable-to-slightly-rising margins, expense growth moderation and a healthy amount of share repurchases as the group continues to organically accrete excess capital, all of which could move forward expectations modestly higher post-quarter. Credit will be topical once again in Q4, particularly given the recent noise around private credit and exposure to non-bank financials. However, based on key macroeconomic data and our recent discussions with the banks, we don't expect to see any meaningful impact on PCLs related to that exposure in Q4 and losses, in our view, should remain very manageable and in-line with the most recent guidance."