Barclays Reaffirms Underweight Rating for Canadian Imperial Bank of Commerce (CM)
Canadian Imperial Bank of Commerce (NYSE:CM)‘s stock had its “underweight” rating restated by equities research analysts at Barclays in a research note issued to investors on Tuesday. They currently have a $105.00 price target on the stock, up from their previous price target of $100.00. Barclays’ price objective would suggest a potential upside of 12.31% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Macquarie upgraded shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. Finally, analysts at Scotiabank cut their price target on shares of Canadian Imperial Bank of Commerce from C$104.00 to C$103.00 in a research note on Friday, May 30th. They now have a “sector perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $92.80.
Canadian Imperial Bank of Commerce (NYSE:CM) traded up 0.21% on Tuesday, hitting $93.69. 16,485 shares of the company’s stock traded hands. Canadian Imperial Bank of Commerce has a one year low of $74.96 and a one year high of $94.30. The stock’s 50-day moving average is $92.0 and its 200-day moving average is $87.78. The company has a market cap of $37.229 billion and a P/E ratio of 12.94.
Canadian Imperial Bank of Commerce (NYSE:CM) last posted its quarterly earnings results on Thursday, May 29th. The company reported $1.99 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.90 by $0.09. On average, analysts predict that Canadian Imperial Bank of Commerce will post $8.69 earnings per share for the current fiscal year.
Canadian Imperial Bank of Commerce (NYSE:CM) is a global financial institution.
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