The Globe and Mail reports in its Wednesday, Dec. 6, edition that National Bank Financial analyst Gabriel Dechaine has reiterated his "sector perform" ranking for Canadian Imperial Bank of Commerce, as well as his $62 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $59.68. Mr. Dechaine thinks fourth quarter earnings season for Canadian banks was "an oddly satisfying finish to a difficult year," seeing the sector "poised for a short-term rally." Mr. Dechaine says in a note: "Despite Q4/23 results that were generally well received (i.e., 4/6 stocks rose in reaction to results), the sector is still underperforming the market on a year-to-date basis. We believe momentum behind the group is positive, at least in the short-term. With negative EPS revisions tied to NIM [net interest margin] and expense growth in the rear-view mirror, and with the outlook for Central Bank rate cuts generating confidence around a 'soft landing' scenario, we believe investor sentiment is turning positive." The Globe reported on Nov. 22 that Mr. Dechaine had reaffirmed his "sector perform" call for CIBC. The shares could then be had for $53.39.