Canadian Imperial Bank of Commerce (CM) is celebrating the 10th Global Accessibility Awareness Day, which is an opportunity to promote a sense of belonging for people with disabilities worldwide and increase awareness about inclusive design.
CIBC is the fifth-largest Canadian bank by assets and serves more than 10 million customers. (See Canadian Imperial Bank of Commerce stock analysis on TipRanks)
Andrea Nalyzyty, Senior Vice-President and Chair of CIBC’s Accessibility Action Committee said, “The pandemic has created unique challenges and opportunities for people who live with disability. We have a once-in-a-lifetime chance to position the focus of our economic recovery on harnessing all of our human capital. We’re focused on continuing to level the playing field and removing barriers to ensure our team members, clients, and community members can all excel and achieve their ambitions. Making change happen takes action – not words. We’re committed to affecting meaningful change in our business and the communities around us by fully embracing and promoting inclusion.”
CIBC maintains a policy of hiring eight to nine percent of people with disabilities among external candidates annually.
CIBC also revealed the four key areas of the MaRS-CIBC Inclusive Design Challenge, which has the goal of removing barriers to employment. The key areas include access to work, support at work, career advancement, and the future of work.
Members of the innovation and disability communities have until June 30 to submit solutions for the first challenge.
Today, Scotiabank analyst Meny Grauman maintained a Buy rating on CM and raised its price target to C$156.00 (from C$144.00) for 16% upside potential. Grauman stated that the post-pandemic economic outlook is “extremely favorable” for the banking sector.
Overall, consensus among Wall Street analysts is that CM is a Strong Buy based on 10 Buys and 2 Holds. The average analyst price target of C$137.50 implies 2.4% upside potential from current levels. Shares have gained more than 60% over the past year.
TipRanks’ Smart Score
CM scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock’s returns are very likely to outperform the overall market.
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