In October, for Small Business Month, CIBC (CM) will shine the spotlight on local businesses across Canada with a campaign that celebrates popular businesses, communities, and well-known personalities.
To further support businesses in the long term, CIBC has created the position of “Associate Business Advisor” in banking centers in most metropolitan markets.
The new campaign features a range of CIBC business clients across the country through online advertising and free product offers. It is also calling on three CIBC ambassadors — world ski cross champion Marielle Thompson, and professional hockey players Mitch Marner and Connor McDavid — to talk about the importance of local businesses in their lives.
Associate Business Advisors will work with start-ups and business owners to help them grow through the personalized solutions and expertise of CIBC Business Banking.
David Leuty, SVP, Business Banking, CIBC, said, “Our Associate Business Advisors will provide enhanced support to clients who need it most. With specialized advice for starting a new business, a commitment to supporting Black entrepreneurs, and banking bundles for professionals, we have a wide range of resources available to our business clients for every stage of their journey.” (See Canadian Imperial Bank of Commerce stock charts on TipRanks)
On August 30, National Bank analyst Gabriel Dechaine maintained a Buy rating on CM and a C$168 price target. This implies 19.1% upside potential.
Overall, consensus among Wall Street analysts is that CM is a Strong Buy based on eight Buys and two Holds. The average Canadian Imperial Bank of Commerce price target of C$161.18 implies 14.2% upside potential to current levels.
TipRanks’ Smart Score
CIBC scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock’s returns are very likely to beat the overall market.