TD 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 target increased by stock analysts at TD from C$153.00 to C$166.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD’s price objective would indicate a potential upside of 10.61% from the stock’s previous close.

A number of other research firms have also weighed in on CM. TD Securities lifted 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. National Bank Financial lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$150.00 and gave the company a “sector perform” rating in a research report on Friday, February 27th. Jefferies Financial Group lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research report on Wednesday, February 11th. Scotiabank lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$159.00 and gave the company a “sector outperform” rating in a research report on Monday. Finally, BMO Capital Markets raised their target price on Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$149.68.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM traded up C$0.41 during mid-day trading on Tuesday, reaching C$150.08. 631,563 shares of the company’s stock were exchanged, compared to its average volume of 2,674,972. The business’s fifty day simple moving average is C$138.68 and its 200-day simple moving average is C$129.11. Canadian Imperial Bank of Commerce has a 52-week low of C$87.62 and a 52-week high of C$153.71. The stock has a market capitalization of C$138.13 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 3.03 and a beta of 1.21.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data 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 for the quarter. Equities research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current 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.