National Bank shakes up its Dividend All-Stars portfoli The following eight securities were added to the portfolio.
The potential total returns indicated below were published in this report and may have changed due to stock price moves over the past few days.
CIBC (CM-T): The analyst has a target price of $159 on this bank stock, which is based on price-to-earnings multiple of 11 times the analyst’s 2022 earnings forecast. The analyst is forecasting earnings per share of $13.85 in fiscal 2021 and $14.50 in fiscal 2022.
Analyst Gabriel Dechaine remarked on the stock’s valuation, “CM has at times been perceived as a bank that has under-invested in its core franchises and addressing that perception is an important component of its long-term valuation re-rating potential. Recent indicators, especially in the Canadian P&C segment, are signs that progress on that front is being made.”