TD Securities Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective raised by equities researchers at TD Securities from C$124.00 to C$134.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 6.36% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. National Bankshares set a C$110.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock a “sector perform” rating in a report on Monday, September 22nd. Desjardins boosted their price target on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$113.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Raymond James Financial set a C$127.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the company a “market perform” rating in a report on Tuesday, November 25th. Scotiabank raised their target price on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$133.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Jefferies Financial Group boosted their target price on Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the stock a “hold” rating in a report on Tuesday, November 25th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus target price of C$120.54.

Canadian Imperial Bank of Commerce Stock Down 0.2%

Shares of TSE CM traded down C$0.31 during midday trading on Friday, hitting C$125.99. The stock had a trading volume of 1,463,141 shares, compared to its average volume of 3,342,767. The stock has a 50 day simple moving average of C$116.59 and a 200-day simple moving average of C$105.89. The company has a market capitalization of C$117.12 billion, a PE ratio of 15.23, a P/E/G ratio of 3.03 and a beta of 1.45. Canadian Imperial Bank of Commerce has a 1 year low of C$76.17 and a 1 year high of C$126.98.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 EPS for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%.The firm had revenue of C$7.58 billion during the quarter. As a group, analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.