Raymond James Financial Lowers Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$155.50

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price cut by analysts at Raymond James Financial from C$157.50 to C$155.50 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James Financial’s target price points to a potential upside of 5.21% from the stock’s previous close.

Several other analysts also recently weighed in on CM. TD cut their price target on Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating on the stock in a research note on Friday. Canaccord Genuity Group upped their price target on Canadian Imperial Bank of Commerce from C$145.00 to C$153.00 and gave the stock a “hold” rating in a research note on Wednesday, May 20th. Scotiabank upped their price target on Canadian Imperial Bank of Commerce from C$153.00 to C$159.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 4th. Royal Bank Of Canada cut their target price on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Finally, National Bank Financial increased their target price on 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. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$152.86.

Canadian Imperial Bank of Commerce Trading Down 2.1%

Shares of CM stock traded down C$3.16 during midday trading on Friday, reaching C$147.80. 1,734,083 shares of the stock were exchanged, compared to its average volume of 2,541,456. The company’s 50 day moving average is C$145.42 and its two-hundred day moving average is C$134.05. Canadian Imperial Bank of Commerce has a 1 year low of C$91.94 and a 1 year high of C$162.12. The firm has a market cap of C$136.03 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 3.03 and a beta of 1.30.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. The company had revenue of C$8.01 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 14.76% and a net margin of 17.63%. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS 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.