Canadian Imperial Bank of Commerce (NYSE:CM) gapped up prior to trading on Friday . The stock had previously closed at $79.43, but opened at $79.70. Canadian Imperial Bank of Commerce shares last traded at $80.24, with a volume of 257,095 shares changing hands.

A number of equities research analysts have recently issued reports on the stock. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $112.00 price objective (up previously from $104.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 26th. Desjardins reaffirmed a “buy” rating and issued a $110.00 price objective (up previously from $109.00) on shares of Canadian Imperial Bank of Commerce in a research note on Monday, August 29th. Scotiabank reaffirmed a “sector perform” rating and issued a $105.00 price objective (up previously from $102.00) on shares of Canadian Imperial Bank of Commerce in a research note on Monday, August 29th. TD Securities reiterated a “hold” rating and set a $105.00 price target (up from $100.00) on shares of Canadian Imperial Bank of Commerce in a report on Monday, August 29th. Finally, Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Tuesday, August 30th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $100.80.

The company has a market capitalization of $31.69 billion and a price-to-earnings ratio of 10.08. The company has a 50-day moving average of $77.11 and a 200 day moving average of $75.87.

Canadian Imperial Bank of Commerce (NYSE:CM) last posted its earnings results on Thursday, August 25th. The company reported $2.67 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.32. During the same quarter in the previous year, the business earned $2.45 earnings per share. Equities research analysts predict that Canadian Imperial Bank of Commerce will post $7.76 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce (CIBC) is a Canada-based financial institution. CIBC serves its clients through three strategic business units: Retail and Business Banking, Wealth Management and Wholesale Banking. Its three main operating groups are supported by six functional groups: Technology and Operations; Corporate Development; Finance; Treasury; Administration; and Risk Management, which form part of Corporate and Other.

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