CIBC Asset Management Launches Sustainable Investing Solutions

CIBC Asset Management Inc. (CAM), the asset management subsidiary of Canadian Imperial Bank Commerce (CM), has launched CIBC Sustainable Investment Solutions, which provides access to active management strategies aligned with the investment values of socially responsible investors.

CAM’s President and CEO David Scandiffio said, “We have a strong history of responsible investing practices, including an established ESG framework for all portfolio decisions. These new solutions are a natural progression of our focus on innovative offerings that reflect the values of the clients and communities we serve. Through the associated impact donations we are pleased to support organizations focused on climate change, furthering the positive impact our clients seek.”

A portion of the management fees CIBC receives from managing these environmental, social, and governance (ESG) solutions will go to organizations that support climate change transition initiatives.

CIBC Sustainable Investing Solutions are available to clients starting July 5, with an initial investment of at least C$500. A series of ETFs combining the six solutions will be launched in the coming weeks. (See Canadian Imperial Bank of Commerce stock chart on TipRanks)

Last month, National Bank analyst Gabriel Dechaine maintained a Buy rating on the stock and raised its price target to C$159.00 (from C$156.00). This implies 12.05% upside potential.

Overall, consensus among Wall Street analysts is that CM is a Strong Buy based on 8 Buys and 1 Hold. The average Canadian Imperial Bank of Commerce price target of C$154.67 implies 9% upside potential to current levels.

TipRanks’ Smart Score

CIBC scores a 7 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock is likely to perform in line with the overall market.