Canada's CIBC rises after Q1 earnings beat estimates

Shares of Canadian lender CIBC CM.TO rise 2.58% to C$137.85

Co posts Q1 adj net income of C$2.69 billion, beating analysts' estimates of C$2.23 billion as per data compiled by LSEG

Reports Q1 revenue of C$8.40 billion above analysts' estimates of C$7.69 billion

Co did not provide specific guidance for future quarters or full year

Analyst at Jefferies says, "the results did not hinge on simply a single segment, with strength across all of its segments, characterized by strong net interest margin expansion and solid cost controls"

Nine analysts rate stock "strong buy" or "buy" and seven "hold"; their median PT is C$136 - data compiled by LSEG

Including session's moves, CIBC up 10.7% YTD and 62% in the last 12 months