01:30 PM EDT, 05/29/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

After reviewing Apr-Q earnings, we increase our 12-month target price by CAD8 to CAD99, 11.3x our FY 26 (Oct.) EPS view, a slight premium to the peer average of 11.2x. We raise our FY 25 EPS to CAD8.27 from CAD8.09 and FY 26's to CAD8.73 from CAD8.54. Our 2025 and 2026 revenue projections are CAD28.5 billion and CAD29.6 billion, respectively. We are encouraged by CM's expense guidance of a mid-single-digit increase for 2H 2025, marking a significant drop from the double-digit growth rates that were reported in Q1 and Q2 FY 25. However, despite improving efficiency, we don't expect CM to reach its ROE target of 15%+ in FY 25, as a weakening Canadian economy leads to weaker credit quality and above-average provisions for credit losses. Still, CM has several counter-cyclical businesses, and we would expect trading revenues to remain above historical averages should volatility continue. Additionally, capital levels (CET1 ratio +30 bps Y/Y to 13.4% in Apr-Q) are healthy and above historical averages.