Canaccord Genuity Group 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 raised by 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 points to a potential downside of 2.86% from the stock’s previous close.

A number of other equities analysts also recently issued reports on CM. Royal Bank Of Canada cut their price target on shares of 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. National Bank Financial increased their price objective on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a research note on Friday, May 15th. TD Securities increased 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 note on Friday, February 27th. Barclays increased 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. Finally, BMO Capital Markets raised their price target on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$152.86.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock traded up C$3.08 during trading hours on Wednesday, hitting C$157.50. The company had a trading volume of 746,436 shares, compared to its average volume of 2,580,840. The company has a 50-day moving average price of C$141.95 and a two-hundred day moving average price of C$132.05. The firm has a market cap of C$144.96 billion, a P/E ratio of 16.42, a P/E/G ratio of 3.03 and a beta of 1.30. Canadian Imperial Bank of Commerce has a 1 year low of C$91.92 and a 1 year 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 for the quarter. The firm had revenue of C$8.40 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. As a group, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS 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.