Latest news with #CIBC
Yahoo
3 hours ago
- Business
- Yahoo
This week in stocks: Why BMO Capital Markets thinks Costco shares still have room to run
Every weekend, the Financial Post breaks down the most interesting developments in this week's world of investing, from top performers to surprising analyst calls and stocks you should have on your radar. Here's this week's edition. Do investors at BlackBerry Ltd. (BB) finally have something to cheer about? That's something analysts were musing about after shares of the smartphone pioneer turned cybersecurity play popped by nearly 12 per cent on Wednesday, following an earnings report that showed a first-quarter profit had turned positive. The Waterloo, Ont.-based company also 'slightly' hiked its revenue forecast for the year. Though the stock pared some of its gains, BlackBerry shares still closed out the week up 4.7 per cent per cent at $6.21 in Toronto. BlackBerry had been among the Top-10 gainers on the S&P/TSX composite index as late as Thursday. The upbeat earnings lead Bloomberg Intelligence analysts to hazard that the tech firm 'may be finding its footing' and were followed by a handful of price target increases. The biggest hike on the Toronto-listed shares came from CIBC Capital Markets, which raised its target to $8.24, a 30 per cent premium to Friday's close. The S&P500 hit a new all-time high on Friday despite renewed trade tensions between the U.S. and Canada and analysts are optimistic that there are more gains to come on both sides of the border before the year is out. This week, Brian Belski, chief investment strategist at BMO Capital Markets, reconfirmed his base case for the TSX to hit 28,500 this year, hinging the forecast on several factors including 'relatively resilient' Canadian growth, falling interest rates and improving stock valuations. 'Our view in terms of Canadian equities remains resolute. Namely, Canada continues to provide strong relative value, a converging growth profile with the U.S. and improving equity flows,' Belski said in a note. The TSX is up 7.9 per cent year to date and almost 18.9 per cent since Donald Trump's reciprocal tariffs announcement in early April. Belski's base case implies an additional seven per cent return by year end, and though he thinks U.S. markets will be stronger through the end of the year, he still has the TSX as the net winner for 2025. Costco Wholesale Corp. (COST) has been one of the market's top performers over the past decade, but don't let its big run scare you away. BMO Capital Markets food retail analyst Kelly Bania said the stock has more room to grow and confirmed Costco as a top pick in a note out this week. Her refreshed rating is based on three major announcements made recently by the company: a $10 monthly credit on same-day Instacart orders for executive members; extended shopping hours, also for executive members; and a standalone gas station test taking place in California. 'These new benefits and perks highlight Costco's extreme membership value proposition, particularly the key executive membership base, which accounts for 47 per cent of members but 73 per cent of sales,' Bania said. Bania has set a price target of US$1,175, a level the stock topped on Feb. 13 before slumping in March. Year to date, Costco is up 7.5 per cent and closed Friday at US$985.14. Nike Inc. (NKE) The sports-giant is back in the running after its latest earnings appeared to show Nike's year-long sales slump is coming to an end. Deutsche Bank AG analyst Krisztina Katai lifted her target to US$77 Friday from US$71. Nike jumped 15 per cent on Friday and was trading at US$72.04. Nvidia Corp. (NVDA) The darling of the Magnificent Seven stocks could elevate itself into further rarified territory as it looks to become the first company to reach a US$4 trillion market capitalization. Nvidia's prospects were boosted on reports that its largest customers including Meta Platforms Inc., Microsoft Corp., Inc. and Alphabet Inc. are set to increase spending on artificial intelligence. Shares of the company were up nearly 10 per cent from last Friday and are up 67 per cent after slumping badly in early April when it looked like its chip business would be throttled by trade troubles between the U.S. and China. The consensus price target from analysts who cover the company rose to US$173.47 from US$171.38. Nvidia closed Friday at US$157.75. The week in stocks: Empire, Algoma Steel, and why the case for the trade in war 'keeps getting stronger' The week in stocks: Dollarama still cashing in and silver gets buffed up • Email: gmvsuhanic@ Are you an investor looking for stock ideas and market insight? Sign up for the weekly FP Investor Newsletter here to get the best of the Financial Post's investing news, analysis and expert commentary straight to your inbox. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Business
- Yahoo
CIBC Raises Rubrik (RBRK) Price Target, Maintains Outperformer Rating
Rubrik, Inc. (NYSE:RBRK) is one of . CIBC analyst Todd Coupland has raised the price target on Rubrik, Inc. (NYSE:RBRK) to $125 from $110, maintaining an Outperformer rating on the stock. The decision follows the company's first-quarter earnings report and its guidance for the second quarter and fiscal year 2026, which came in approximately 2% above FactSet estimates. Coupland highlights stronger-than-expected growth in subscription revenue, subscription annual recurring revenue (ARR) contribution margins, and free cash flow as key drivers behind the upgraded outlook. Despite Rubrik's relatively cautious guidance, CIBC views the results positively, citing continued momentum in the cybersecurity market. The firm notes that cyber resilience remains a critical focus for enterprises, which bodes well for Rubrik's ongoing expansion. Additionally, the company has demonstrated steady gains in market share, reinforcing confidence in its competitive positioning. Coupland emphasizes that the combination of solid financial results and the heightened importance of cyber resilience supports the positive thesis on Rubrik. The analyst believes that the company is well-positioned to capitalize on growing demand for data protection and security solutions. Based on these factors, CIBC considers Rubrik's shares attractive and recommends buying the stock. The firm's outlook reflects optimism about the company's ability to sustain growth and profitability in a challenging but expanding cybersecurity market. Investors looking for exposure to this sector may find Rubrik a compelling opportunity. While we acknowledge the potential of RBRK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RBRK and that has 100x upside potential, check out our report about this cheapest AI NEXT: 10 Best Small Cap Tech Stocks With Biggest Upside Potential and 7 Most Popular AI Penny Stocks Under $5 To Avoid. Disclosure: None. Sign in to access your portfolio
Yahoo
12 hours ago
- Business
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Where Will CIBC Be in 10 Years?
Written by Jitendra Parashar at The Motley Fool Canada After posting solid double-digit gains for two consecutive years, Canadian Imperial Bank of Commerce (TSX:CM), or CIBC, has taken a bit of a breather in 2025. As we approach the end of June, CIBC stock is up 5.8% year-to-date, slightly lagging behind the TSX Composite's 8.2% climb. Still, the stock remains attractively priced at $96.21 per share, with a market cap of $89.9 billion and a healthy 4% annualized dividend yield. But could this be a golden opportunity for long-term investors to lock in a high-quality stock at a reasonable valuation? In this article, I'll explore where CIBC stock could be 10 years from now and whether today's price offers an opportunity to lock in long-term value. CIBC stock's recent trajectory could be seen as a reflection of a mix of solid internal performance and broader market dynamics. With interest rates trending lower and geopolitical tensions stirring uncertainty, Canadian banks have been navigating a cautious economic environment. Still, CIBC has managed to hold its ground, supported by a healthy capital position and consistent execution of its strategy. Despite recent stock market volatility, it still maintains a solid Common Equity Tier 1 (CET1) ratio of 13.4%, which is well above regulatory requirements and reflects the bank's strong risk management practices. In the second quarter of its fiscal year 2025 (ended in April), CIBC posted a 14% YoY (year-over-year) increase in its total revenue to around $7 billion, even though it dipped 4% from the first quarter. That dip was largely due to seasonal effects, but the YoY jump clearly showed that its underlying business continues to grow. More importantly, the bank's adjusted net income for the quarter also climbed by 17% YoY to $2 billion with the help of strength across its major business units. For example, its Canadian personal and business banking segment saw a 4% YoY rise in profit in the latest quarter, backed by higher volumes and an improved net interest margin. On the commercial banking and wealth management side, its net income climbed 13% from a year ago, with fee growth and stronger asset balances. Meanwhile, CIBC's U.S. operations also showed progress, with net income jumping nearly 88% YoY to $173 million due mainly to lower credit losses and a consistent revenue lift. With leadership transition plans in place and strong growth across its segments, CIBC could continue to boost its position as a top bank stock over the next decade. Under the leadership of its incoming CEO, Harry Culham, the bank is expected to push further into high-margin areas like wealth management and commercial banking, while continuing to expand its U.S. footprint. Over the last five years, CIBC stock has more than doubled, delivering114% returns, excluding dividends. And while no one can predict exactly where a stock will be 10 years from now, I wouldn't be surprised if the stock performs far better over the next decade, given its solid long-term fundamentals. That's why for investors seeking a dependable, growth-oriented stock with a solid dividend yield, CIBC could be one of the best stocks in the sector today. The post Where Will CIBC Be in 10 Years? appeared first on The Motley Fool Canada. Before you buy stock in CIBC, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and CIBC wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $24,927.94!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 30 percentage points since 2013*. See the Top Stocks * Returns as of 6/23/25 More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
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WM price target raised to $250 from $244 at CIBC
CIBC raised the firm's price target on WM (WM) to $250 from $244 and keeps a Neutral rating on the shares. The firm said its main takeaway from the company's three-year outlook presented at its Investor Day is that it continues to expect outsized EBITDA and free cash flow growth, with this growth exceeding 2019-2021 targets from WM's 2019 Investor Day. It appears the company is not suffering from the law of large numbers, which addresses a concern that the growth rate will slow relative to peers over the medium term, the analyst tells investors in a research note. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on WM: Disclaimer & DisclosureReport an Issue WM price target raised to $245 from $241 at BMO Capital WM price target raised to $255 from $251 at Oppenheimer Waste Management: Balancing Growth Potential with Near-Term Challenges Waste Management: Balancing Promising Growth with Market Uncertainties Waste Management: Buy Rating Affirmed Amidst Strong Growth Prospects and Attractive Valuation Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hamilton Spectator
2 days ago
- Business
- Hamilton Spectator
Customer satisfaction with banks up slightly from last year: J.D. Power survey
Consumers appear to be slightly more satisfied with the financial advice and guidance they received from their banks compared with last year, a new J.D. Power survey shows. The findings showed overall customer satisfaction with their bank improved slightly by 13 points to 579 on a 1,000-point scale. The report, published Thursday, cited several improvements including the frequency, quality and relevance of the advice which helped boost the satisfaction score. RBC ranked the highest in customer satisfaction for a fifth consecutive year, scoring 595 points. CIBC ranked second with 590 points, followed by Scotiabank with a score of 580 points. TD ranked last out of the Big Five banks with a score of 563. The survey said more Canadians turned to their bank for help in navigating day-to-day financial hardships amid growing economic pressures. 'The eroding financial health of customers and their fear that economic conditions may worsen are driving customers — especially younger ones with growing deposits — to seek financial advice from their retail bank at an accelerated pace,' said Jennifer White, senior director for banking and payments intelligence at J.D. Power, in a release. She said customers are also shifting focus from longer-term goals such as investment and retirement planning to more immediate needs such as paying bills, reducing debt and sticking to a budget. Among those who turned to their bank for advice, 71 per cent were concerned about the high cost of living while 36 per cent were struggling to manage housing costs such as mortgage payments and electricity bills. Forty-four per cent of bank customers are considered financially vulnerable, significantly up from 36 per cent five years ago, the study, which surveyed 2,582 retail bank customers between January and March of this year, showed. This report by The Canadian Press was first published June 26, 2025. Companies in this story: (TSX: BNS, TSX: RY, TSX: CM, TSX: TD)
