Canadian Imperial Bank of Commerce (TSE:CM) Price Target Cut to C$147.00 by Analysts at Royal Bank Of Canada

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target lowered by equities researchers at Royal Bank Of Canada from C$158.00 to C$147.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 9.18% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Desjardins upped their price target on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. National Bank Financial raised their price target on Canadian Imperial Bank of Commerce from C$131.00 to C$150.00 and gave the company a “sector perform” rating in a report on Friday, February 27th. Barclays lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research note on Monday, March 2nd. Canaccord Genuity Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the company a “hold” rating in a research report on Friday, February 27th. Finally, Raymond James Financial raised their price target on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$148.50 and gave the stock a “market perform” rating in a research note on Friday, February 27th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$145.35.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock traded up C$1.44 on Wednesday, reaching C$134.64. The stock had a trading volume of 1,436,178 shares, compared to its average volume of 2,733,468. The company has a 50 day simple moving average of C$131.81 and a 200 day simple moving average of C$123.33. The stock 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. 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 released its quarterly earnings results on Thursday, February 26th. The company reported C$2.76 EPS 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, equities research analysts anticipate 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.