Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, Scotiabank Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price upped by Scotiabank from C$85.00 to C$108.00 in a research note issued on Monday,BayStreet.CA reports. Scotiabank’s price objective points to a potential upside of 18.60% from the stock’s previous close.

Several other research analysts have also recently commented on CM. Desjardins boosted their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Cormark raised Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and boosted their target price for the stock from C$75.00 to C$83.00 in a research note on Friday, August 30th. TD Securities boosted their target price on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research note on Friday, November 15th. Barclays boosted their target price on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a research note on Friday, August 30th. Finally, Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and boosted their target price for the stock from C$74.00 to C$90.00 in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and an average target price of C$87.17.

Canadian Imperial Bank of Commerce Trading Down 0.4 %

Shares of TSE CM opened at C$91.06 on Monday. Canadian Imperial Bank of Commerce has a twelve month low of C$51.60 and a twelve month high of C$92.17. The stock has a fifty day simple moving average of C$86.05 and a 200-day simple moving average of C$75.02. The stock has a market capitalization of C$86.05 billion, a PE ratio of 13.18, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Thursday, August 29th. The company reported C$1.93 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. The business had revenue of C$6.60 billion during the quarter, compared to analysts’ expectations of C$6.31 billion. On average, equities analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Insider Transactions at Canadian Imperial Bank of Commerce

In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total value of C$441,791.70. Also, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$83.40, for a total value of C$3,087,634.80. In the last ninety days, insiders sold 203,057 shares of company stock valued at $16,823,249. 0.02% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.