TD Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective boosted by equities research analysts at TD from C$153.00 to C$166.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD’s price objective would indicate a potential upside of 10.61% from the stock’s current price.

Several other equities analysts have also commented on the stock. TD Securities increased their price target 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. BMO Capital Markets increased their price target on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Raymond James Financial increased their price target on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$148.50 and gave the company a “market perform” rating in a research note on Friday, February 27th. Desjardins increased their price target on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Canaccord Genuity Group increased their price target 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 note on Friday, February 27th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus price target of C$149.68.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock traded up C$0.41 during trading hours on Tuesday, reaching C$150.08. 631,563 shares of the stock were exchanged, compared to its average volume of 2,674,972. The business’s fifty day moving average is C$138.68 and its two-hundred day moving average is C$129.11. Canadian Imperial Bank of Commerce has a 12-month low of C$87.62 and a 12-month high of C$153.71. The firm has a market capitalization of C$138.13 billion, a P/E ratio of 15.65, a P/E/G ratio of 3.03 and a beta of 1.21.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, February 26th. The company reported C$2.76 EPS for the quarter. The company 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 predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

About Canadian Imperial Bank of Commerce

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.