CIBC Says Rate Cut Means Time Has Come to Buy Discount Bank Stocks [Financial Post (Toronto, Ontario, Canada)]
Canadian Imperial Bank of Commerce (CM)
Last canadian imperial bank of commerce earnings: 2/26 05:53 am
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Source: Financial Post
Commerce said, citing lower interest rates and easing of economic risks that give the cheaper stocks more earnings upside. Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Now is the time for equity investors to move out of premium-traded Canadian banks and into discounted banks, analysts at Canadian Imperial Bank of Commerce said, citing lower interest rates and easing of economic risks that give the cheaper stocks more earnings upside. CIBC said it upgraded Bank of Nova Scotia to an outperformer rating and demoted National Bank of Canada to neutral as borrowing costs ease and fading economic risks mean banks don't have to set as much money aside for bad loans. That gives Scotiabank an opportunity to catch up to National Bank, with analyst Paul Holden saying valuation spreads are still wide. “We think these conditions set the stage for a trade out of the premium banks into the discounted banks
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Earnings
- 8/29/24 - Beat
CM
Sec Filings
- 9/27/24 - Form FWP
- 9/27/24 - Form FWP
- 9/27/24 - Form FWP
- CM's page on the SEC website