Royal Bank Of Canada Forecasts Strong Price Appreciation for Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price lifted by stock analysts at Royal Bank Of Canada from C$131.00 to C$134.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 6.55% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Raymond James Financial lifted their price objective on Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the stock a “market perform” rating in a research note on Friday, December 5th. Desjardins lifted their price target on Canadian Imperial Bank of Commerce from C$132.00 to C$135.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. TD Securities upped their price target on Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the stock a “buy” rating in a report on Friday, December 5th. National Bankshares increased their price objective on Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the company a “sector perform” rating in a research report on Friday, December 5th. Finally, Scotiabank boosted their target price on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$133.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$125.64.

Canadian Imperial Bank of Commerce Trading Down 1.5%

Shares of Canadian Imperial Bank of Commerce stock opened at C$125.76 on Monday. The firm has a fifty day simple moving average of C$122.71 and a 200-day simple moving average of C$111.41. Canadian Imperial Bank of Commerce has a 1-year low of C$76.17 and a 1-year high of C$128.87. The stock has a market capitalization of C$116.53 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 3.03 and a beta of 1.31.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. The business had revenue of C$7.58 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. As a group, research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Company Profile

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.