The Globe and Mail reports in its Wednesday, Nov. 26, edition that Raymond James analyst Stephen Boland has reaffirmed his "market perform" recommendation for Canadian Imperial Bank of Commerce. The Globe's David Leeder writes in the Eye On Equities column that Mr. Boland continues to target the shares at $127. Analysts on average target the shares at $116.17. Mr. Boland says in a note: "CIBC has performed strongly since overcoming credit issues in its U.S. office portfolio in 2023. NIM expansion has been an important differentiator for CIBC, though we believe the bank's NIM could peak in 2026, and near-term earnings growth may be more closely linked to continued PCL improvement -- an area where we have generally less conviction. That said, CIBC continues to execute strongly and a more attractive entry point could lead us to become more positive on the stock. ... While long-term we remain positive, most of the Big Six are trading near peak P/E multiples, leaving the group sensitive to shifts in market sentiment -- particularly around the credit outlook. We recommend that Canadian investors maintain exposure within the sector and we encourage U.S. investors to look North for opportunities."