CIBC Run for the Cure Raises Over C$2M

On October 3, members of the CIBC (CM) team, along with some of their clients, family, and friends participated in the 30th annual CIBC Run for the Cure, in order to raise funds for the Canadian Cancer Society.

“Team CIBC has been coming together with the Canadian Cancer Society and Canadians from coast to coast to coast around a shared purpose from the beginning,” said Laura Dottori-Attanasio, CIBC’s Group Head, Personal and Business Banking, and Executive Run Sponsor.

“Step by step with our friends at the Canadian Cancer Society, we’ve created a movement that brings Canadians together in support of friends, family, and loved ones who experience breast cancer. And once again the ingenuity and determination shown by Team CIBC was evident in creatively fundraising to help change the future of breast cancer.”

An updated app and avatar was created to allow participants to create and customize their own virtual runner, fundraise to unlock rewards, and track their activity.

An opening ceremony was broadcast live on YESTV, offering attendees from across the country the chance to listen to performances by iconic Canadian artists including Chantal Kreviazuk, and testimonials from people affected by breast cancer.

As title sponsor of the Canadian Cancer Society’s CIBC Run for the Cure for 25 years, Team CIBC has raised over C$58 million for breast cancer research, treatment, education, and support programs. (See Canadian Imperial Bank of Commerce stock charts on TipRanks)

On August 30, National Bank analyst Gabriel Dechaine maintained a Buy rating on CM, and a C$168 price target. This implies 18.6% upside potential.

Overall, consensus among Wall Street analysts is that CM is a Strong Buy, based on eight Buys and two Holds. The average Canadian Imperial Bank of Commerce price target of C$160.43 implies 13.3% upside potential to current levels.