Royal Bank of Canada Boosts Canadian Imperial Bank of Commerce (CM) Price Target to C$138.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective upped by Royal Bank of Canada from C$136.00 to C$138.00 in a research note issued to investors on Wednesday. Royal Bank of Canada’s price objective points to a potential upside of 19.47% from the stock’s previous close.

Several other brokerages have also issued reports on CM. Canaccord Genuity set a C$121.00 target price on Canadian Imperial Bank of Commerce in a research note on Wednesday, November 1st. Barclays lifted their price target on Canadian Imperial Bank of Commerce from C$110.00 to C$119.00 in a research report on Friday, December 1st. CSFB lifted their price target on Canadian Imperial Bank of Commerce from C$125.00 to C$134.00 in a research report on Friday, January 19th. Scotiabank lifted their price target on Canadian Imperial Bank of Commerce from C$128.00 to C$135.00 in a research report on Friday, December 1st. Finally, National Bank Financial lifted their price target on Canadian Imperial Bank of Commerce from C$125.00 to C$133.00 and gave the company an “outperform” rating in a research report on Friday, December 1st. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Canadian Imperial Bank of Commerce has an average rating of “Buy” and an average price target of C$127.90.

Shares of Canadian Imperial Bank of Commerce (TSE CM) traded up C$0.80 during trading on Wednesday, reaching C$115.51. The company had a trading volume of 1,682,469 shares, compared to its average volume of 1,413,866. The company has a market capitalization of $51,110.00, a price-to-earnings ratio of 10.25 and a beta of 0.72. Canadian Imperial Bank of Commerce has a 1-year low of C$103.84 and a 1-year high of C$124.37.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, November 30th. The company reported C$2.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$2.62 by C$0.19. Canadian Imperial Bank of Commerce had a return on equity of 15.90% and a net margin of 27.27%.

In other news, Director Laura Lee Dottori-Attanasio sold 11,928 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, December 14th. The stock was sold at an average price of C$119.55, for a total value of C$1,425,992.40.

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About Canadian Imperial Bank of Commerce

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 (TSE:CM)

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