Topic: How To Invest

The Successful Investor Hotline – Friday, July 12, 2019

Article Excerpt

CANADIAN IMPERIAL BANK OF COMMERCE, $103.14, Toronto symbol CM, is the smallest of Canada’s big five banks, with assets of $634.1 billion. The bank continues to expand its U.S. operations, which supply about 13% of its earnings. This week, CIBC agreed to pay an undisclosed amount for Milwaukee-based Clearly Gull. That firm helps small and mid-sized businesses in the U.S. Midwest raise capital. It also advises them on mergers and acquisitions. The bank expects to complete the purchase by the end of 2019. The new operations look like a nice fit with CIBC’s Chicago-based PrivateBancorp, which it acquired in June 2017 for $6.6 billion in cash and stock. That firm mainly lends to small and mid-sized businesses. It also provides wealth management services. OUR RECOMMENDATION: CIBC is a buy. CIBC recent coverage: Hotline for May 24, 2019 May 2019 issue BOMBARDIER INC., Toronto symbols BBD.A $2.23 and BBD.B $2.20, is one of the world’s leading makers of business jets. It also owns 70% of Bombardier Transportation,…

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