Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been given a C$121.00 price target by equities research analysts at Canaccord Genuity in a note issued to investors on Wednesday. Canaccord Genuity’s target price would indicate a potential upside of 6.55% from the company’s previous close.

CM has been the subject of several other reports. Keefe, Bruyette & Woods lifted their price objective on Canadian Imperial Bank of Commerce from C$115.00 to C$116.00 in a report on Tuesday, August 22nd. Scotiabank decreased their price objective on Canadian Imperial Bank of Commerce from C$120.00 to C$118.00 and set a “sector perform” rating for the company in a report on Sunday, August 27th. Citigroup Inc. downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and lifted their price objective for the company from C$113.00 to C$120.00 in a report on Wednesday, October 25th. TD Securities upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a C$120.00 price objective for the company in a report on Wednesday, September 6th. Finally, BMO Capital Markets restated a “market perform” rating and issued a C$118.00 price objective on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of C$118.58.

Canadian Imperial Bank of Commerce (TSE:CM) traded up 0.01% during trading on Wednesday, reaching $113.57. 532,176 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $110.72 and its 200-day moving average is $108.14. Canadian Imperial Bank of Commerce has a 12-month low of $97.52 and a 12-month high of $120.83. The company has a market cap of $49.51 billion and a P/E ratio of 10.32.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, August 24th. The company reported C$2.77 earnings per share for the quarter, beating the consensus estimate of C$2.63 by C$0.14. The firm had revenue of C$4.10 billion during the quarter, compared to the consensus estimate of C$4.01 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.50% and a net margin of 26.73%. Analysts predict that Canadian Imperial Bank of Commerce will post $10.89 EPS for the current fiscal year.

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In other Canadian Imperial Bank of Commerce news, Director Katharine Berghuis Stevenson purchased 400 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average price of C$105.19 per share, for a total transaction of C$42,076.00. Also, Director Michelle Lynn Collins purchased 1,186 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were acquired at an average price of C$84.30 per share, for a total transaction of C$99,979.80.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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