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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective lifted by stock analysts at Canaccord Genuity Group from C$145.00 to C$153.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential downside of 2.86% from the stock’s current price.

A number of other equities research analysts have also issued reports on CM. Barclays lifted their target price on Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research report on Monday, March 2nd. National Bank Financial boosted their price target on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a report on Friday, May 15th. Royal Bank Of Canada lowered their price target on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Finally, Raymond James Financial upped their price target on Canadian Imperial Bank of Commerce from C$148.50 to C$157.50 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and a consensus target price of C$152.86.

Canadian Imperial Bank of Commerce Price Performance

Shares of TSE CM traded up C$3.08 during trading hours on Wednesday, reaching C$157.50. The stock had a trading volume of 746,436 shares, compared to its average volume of 2,580,840. The business’s fifty day moving average is C$141.95 and its two-hundred day moving average is C$132.05. The company has a market cap of C$144.96 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 3.03 and a beta of 1.30. Canadian Imperial Bank of Commerce has a twelve month low of C$91.92 and a twelve month high of C$157.66.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, February 26th. The company reported C$2.76 earnings per share (EPS) for the quarter. The firm had revenue of C$8.40 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 14.76% and a net margin of 17.63%. Sell-side analysts forecast 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

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.