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Investing.com - CIBC has upgraded AutoCanada (TSX:ACQ) (OTC:AOCIF) from Neutral to Outperformer and raised its price target to C$38.00 from C$32.50, citing the company’s successful operational transformation program.
The upgrade, announced Monday, reflects AutoCanada’s ability to exceed expectations through its transformation initiatives, which have driven significant improvements in profitability and leverage, according to CIBC.
The financial institution noted that AutoCanada has simplified its business model and appears positioned to resume growth in 2026 with a streamlined cost structure and new leadership team in place.
While CIBC acknowledged that AutoCanada still faces an uncertain macroeconomic environment complicated by tariffs, it believes the company’s current valuation adequately reflects these risks.
CIBC expressed confidence that AutoCanada has sufficient internal growth drivers—including cost improvement measures, sales initiatives, and potential mergers and acquisitions—to offset market-level uncertainties.
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