In this article, we will discuss the CIBC Analysts’ Top Picks in Key Sectors.
CIBC has released a detailed report showcasing analyst insights and their top stock recommendations within its coverage universe. The report highlights promising opportunities in both the energy and real estate sectors.
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Energy Sector: Key Picks and Outlook
Dennis Fong, CIBC’s energy analyst, continues to favor Suncor Energy Inc., citing substantial progress toward its strategic targets. As of now, the company has already achieved over 50% of its goals laid out in the 2024 Business Update. This includes a 70% completion of its US$7 per barrel break-even reduction target and hitting its net debt goal of $8 billion.
Another top pick from Fong is Cenovus Energy Inc. He expects the company to ramp up production to 840,000 barrels of oil equivalent per day (Boe/d) by 2026, up from 819,000 Boe/d in Q1 2025. Ongoing projects coming online in the near term, along with optimization in refining operations, are expected to drive better market access and cost efficiencies.
Jamie Kubik, who focuses on natural gas producers, highlights the transformative potential of the upcoming LNG Canada project. Set to be a major catalyst for the sector, the project will introduce 2.0 Bcf/d of additional demand into the Western Canadian Sedimentary Basin by 2026. This is expected to reduce inventory excess and tighten gas price differentials, creating a favorable environment for Canadian gas producers.
Kubik’s top picks include Kelt Exploration Ltd., which he views as undervalued and well-positioned for strong production growth. The company is expected to increase output by 36% in 2025 and 22% in 2026, driven by the startup of its CSV Albright gas plant.
Also on Kubik’s list is NuVista Energy Ltd., a Montney-focused producer on track to reach 125,000 Boe/d by 2028. The company stands out for its healthy balance sheet, attractive commodity mix, and commitment to returning 75% of free cash flow to shareholders through buybacks—an appealing combination for investors seeking exposure to the natural gas recovery trend.
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Real Estate Sector: Analyst Favorites
On the real estate front, Dean Wilkinson sees continued upside for Brookfield Corporation (BN). Despite strong performance over the past year, Wilkinson believes the stock is still undervalued, especially considering Brookfield’s premier real estate assets and its rapidly expanding wealth management arm.
He also highlights Flagship Communities REIT (MHC) as a standout in the residential space, particularly for its strong operating leverage. Although the REIT has already outpaced much of the broader sector in 2025, Wilkinson sees significant growth potential ahead.
Tal Woolley, specializing in industrial REITs, names Granite REIT as his top pick. Granite offers a robust mix of consistent growth, low debt levels, strong free cash flow, and operational stability—making it an attractive option for investors looking for reliable industrial sector exposure.
While above are CIBC Analysts’ Top Picks in Key Sectors, investors are required to consider their risk appetite while making investments.
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