National Bank Financial Forecasts Strong Price Appreciation for Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target boosted by analysts at National Bank Financial from C$131.00 to C$150.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. National Bank Financial’s price target would suggest a potential upside of 9.05% from the company’s current price.

Several other research analysts have also recently commented on the stock. Jefferies Financial Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a report on Wednesday, February 11th. Royal Bank Of Canada raised their target price on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Desjardins upped their price objective on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Raymond James Financial lifted their price target on Canadian Imperial Bank of Commerce from C$122.00 to C$135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 17th. Finally, Scotiabank increased their target price on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research report on Friday, January 9th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and a consensus price target of C$146.05.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE CM traded down C$4.29 during mid-day trading on Friday, reaching C$137.55. 1,618,844 shares of the company traded hands, compared to its average volume of 2,555,776. The company’s fifty day moving average is C$128.99 and its two-hundred day moving average is C$119.21. Canadian Imperial Bank of Commerce has a fifty-two week low of C$76.17 and a fifty-two week high of C$143.80. The stock has a market cap of C$127.46 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, February 26th. The company reported C$2.76 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. The business had revenue of C$8.40 billion for the quarter. Research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, insider Frank Guse sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total value of C$635,800.00. Following the transaction, the insider owned 1,359 shares of the company’s stock, valued at C$172,810.44. This trade represents a 78.63% decrease in their position. Corporate insiders own 0.02% of the company’s stock.

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.