Royal Bank Of Canada Issues Pessimistic Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price decreased by Royal Bank Of Canada from C$158.00 to C$147.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 9.18% from the company’s current price.

CM has been the topic of a number of other reports. Scotiabank increased their price objective on shares of Canadian Imperial Bank of Commerce from C$138.00 to C$153.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Barclays upped their price target on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research report on Monday, March 2nd. TD Securities upped their price objective on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Raymond James Financial upped their price objective on Canadian Imperial Bank of Commerce from C$135.00 to C$148.50 and gave the company a “market perform” rating in a research note on Friday, February 27th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$145.35.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock traded up C$1.44 on Wednesday, reaching C$134.64. 1,436,178 shares of the company were exchanged, compared to its average volume of 2,733,468. The company has a market cap of C$123.92 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 3.03 and a beta of 1.32. The stock’s 50 day moving average price is C$131.81 and its 200-day moving average price is C$123.33. Canadian Imperial Bank of Commerce has a 1-year low of C$76.17 and a 1-year high of C$143.80.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly 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 17.63% and a return on equity of 14.76%. The firm had revenue of C$8.40 billion during the quarter. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

About Canadian Imperial Bank of Commerce

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.