Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was upgraded by equities researchers at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a report released on Friday, MarketBeat Ratings reports. The firm presently has a $125.00 target price on the bank’s stock, up from their prior target price of $116.00. Credit Suisse Group’s target price indicates a potential upside of 30.93% from the company’s previous close.

Other analysts have also recently issued research reports about the company. TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Wednesday, September 6th. Canaccord Genuity set a $117.00 target price on Canadian Imperial Bank of Commerce and gave the stock a “buy” rating in a research report on Thursday, August 24th. Scotiabank reaffirmed a “hold” rating and issued a $128.00 target price on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, November 22nd. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Finally, Citigroup cut Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $114.00.

Shares of Canadian Imperial Bank of Commerce (CM) traded up $3.71 during trading on Friday, hitting $95.47. The stock had a trading volume of 1,418,192 shares, compared to its average volume of 758,622. The firm has a market capitalization of $42,090.00, a PE ratio of 10.90, a PEG ratio of 3.62 and a beta of 1.11. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. Canadian Imperial Bank of Commerce has a 1-year low of $77.20 and a 1-year high of $95.73.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Canadian Imperial Bank of Commerce by 55.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock valued at $120,000 after buying an additional 526 shares in the last quarter. INR Advisory Services LLC bought a new position in Canadian Imperial Bank of Commerce during the second quarter valued at about $125,000. Quantum Capital Management LLC NJ bought a new position in Canadian Imperial Bank of Commerce during the third quarter valued at about $134,000. Nationwide Fund Advisors bought a new position in Canadian Imperial Bank of Commerce during the second quarter valued at about $138,000. Finally, D.A. Davidson & CO. bought a new position in Canadian Imperial Bank of Commerce during the second quarter valued at about $162,000. 44.76% of the stock is owned by hedge funds and other institutional investors.

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Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

Analyst Recommendations for Canadian Imperial Bank of Commerce (NYSE:CM)

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