#cibc Tech News.
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Canadian Imperial Bank of Commerce posted 25% EPS growth and a 16.4% return on equity last quarter. The bank's market-facing segments benefit from a favorable macro environment driving strong operating leverage. CM trades about 60% above its 10-year average multiples, leading to a 'Hold' rating.
CIBC will launch a SpaceX Canadian depositary receipt on the Toronto Stock Exchange, with trading expected to begin Friday. The SpaceX IPO is priced at US$135 per share with 555.6 million shares offered. CIBC introduced CDRs in 2021 and now has 132 representing stocks from six countries.
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