CIBC Now Covered by RBC Capital (CM)
Equities research analysts at RBC Capital initiated coverage on shares of CIBC (NYSE:CM) in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set a “sector perform” rating and a $97.00 price target on the stock. RBC Capital’s target price indicates a potential upside of 14.96% from the company’s current price.
CIBC (NYSE:CM) traded up 0.26% during mid-day trading on Friday, hitting $84.60. 39,998 shares of the company’s stock traded hands. CIBC has a 52-week low of $69.92 and a 52-week high of $87.51. The stock has a 50-day moving average of $85.36 and a 200-day moving average of $79.62. The company has a market cap of $33.726 billion and a price-to-earnings ratio of 10.06.
CIBC (NYSE:CM) last issued its quarterly earnings data on Thursday, December 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by $0.01. On average, analysts predict that CIBC will post $8.64 earnings per share for the current fiscal year.
The company also recently declared a dividend, which is scheduled for Tuesday, January 28th. Shareholders of record on Friday, December 27th will be given a dividend of 0.8994 per share. The ex-dividend date of this dividend is Tuesday, December 24th.
A number of other analysts have also recently weighed in on CM. Analysts at CIBC reiterated a “sector outperform” rating on shares of CIBC in a research note to investors on Friday, December 6th. Separately, analysts at National Bank Financial raised their price target on shares of CIBC from $86.00 to $90.00 in a research note to investors on Wednesday, November 20th. They now have a “sector perform” rating on the stock. Finally, analysts at TD Securities initiated coverage on shares of CIBC in a research note to investors on Thursday, October 17th. They set a “buy” rating and a C$97.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $87.69.
Canadian Imperial Bank of Commerce (NYSE:CM) is a global financial institution.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.