Desjardins Increases Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$67.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective upped by analysts at Desjardins from C$66.00 to C$67.00 in a research report issued on Monday, BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Desjardins’ price target indicates a potential upside of 1.75% from the company’s previous close.

CM has been the subject of several other research reports. Scotiabank raised their price objective on shares of Canadian Imperial Bank of Commerce from C$67.00 to C$69.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. BMO Capital Markets upped their price objective on Canadian Imperial Bank of Commerce from C$68.00 to C$74.00 in a research report on Friday, April 5th. Cormark increased their price objective on Canadian Imperial Bank of Commerce from C$64.00 to C$68.00 in a research note on Friday, March 1st. Canaccord Genuity Group boosted their target price on Canadian Imperial Bank of Commerce from C$64.00 to C$67.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. Finally, TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and increased their price target for the company from C$65.00 to C$70.00 in a research report on Friday, March 1st. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$65.88.

Canadian Imperial Bank of Commerce Stock Performance

CM opened at C$65.85 on Monday. The business’s 50 day moving average price is C$66.44 and its 200 day moving average price is C$61.28. The stock has a market capitalization of C$61.72 billion, a PE ratio of 10.07, a P/E/G ratio of 3.01 and a beta of 1.10. Canadian Imperial Bank of Commerce has a one year low of C$47.44 and a one year high of C$69.42.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, February 29th. The company reported C$1.81 EPS for the quarter, beating analysts’ consensus estimates of C$1.69 by C$0.12. Canadian Imperial Bank of Commerce had a net margin of 29.50% and a return on equity of 12.14%. The company had revenue of C$6.22 billion for the quarter, compared to analysts’ expectations of C$6.07 billion. As a group, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 6.8168574 earnings per share for the current fiscal year.

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.