Canadian Imperial Bank of Commerce (TSE:CM) PT Lowered to C$124.00 at Royal Bank of Canada

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Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective reduced by equities research analysts at Royal Bank of Canada from C$128.00 to C$124.00 in a research note issued on Friday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 23.64% from the stock’s current price.

Other analysts have also recently issued research reports about the company. BMO Capital Markets lowered their price target on Canadian Imperial Bank of Commerce from C$128.00 to C$120.00 and set a “market perform” rating for the company in a research report on Thursday, May 23rd. Eight Capital lowered their price target on Canadian Imperial Bank of Commerce from C$119.00 to C$107.00 in a research report on Wednesday, August 14th. TD Securities cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$135.00 to C$120.00 in a research report on Thursday, May 23rd. Desjardins cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$125.00 to C$118.00 in a research report on Thursday, May 23rd. Finally, Citigroup lowered their price target on Canadian Imperial Bank of Commerce from C$130.00 to C$120.00 in a research report on Thursday, June 27th. Seven equities research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average price target of C$116.60.

Shares of Canadian Imperial Bank of Commerce stock traded down C$1.31 during trading on Friday, reaching C$100.29. The company’s stock had a trading volume of 878,894 shares, compared to its average volume of 1,571,841. The company has a 50-day simple moving average of C$102.03 and a two-hundred day simple moving average of C$107.34. Canadian Imperial Bank of Commerce has a 1-year low of C$97.55 and a 1-year high of C$125.21. The company has a market cap of $44.25 billion and a price-to-earnings ratio of 8.83.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported C$2.97 EPS for the quarter, missing the Zacks’ consensus estimate of C$2.99 by C($0.02). The business had revenue of C$4.54 billion during the quarter, compared to the consensus estimate of C$4.54 billion. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 12.5100001 EPS for the current year.

In other Canadian Imperial Bank of Commerce news, Director Nicholas D’orr Le Pan sold 500 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of C$103.47, for a total transaction of C$51,735.00. Following the completion of the transaction, the director now owns 3,019 shares in the company, valued at approximately C$312,375.93.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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