Canaccord Genuity Group 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 hoisted by analysts at Canaccord Genuity Group from C$129.00 to C$136.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 4.21% from the company’s previous close.

A number of other analysts have also recently issued reports on CM. TD Securities boosted their price objective on Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research report on Monday, February 9th. Raymond James Financial raised their target price 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 report on Friday, December 5th. Desjardins boosted their price target on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a report on Monday, February 9th. Jefferies Financial Group increased their price objective on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research note on Wednesday. Finally, Royal Bank Of Canada raised their price objective on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and an average price target of C$133.70.

Canadian Imperial Bank of Commerce Stock Performance

TSE CM opened at C$130.51 on Thursday. The firm has a 50-day simple moving average of C$127.53 and a 200 day simple moving average of C$116.98. Canadian Imperial Bank of Commerce has a twelve month low of C$76.17 and a twelve month high of C$133.80. The stock has a market cap of C$120.93 billion, a PE ratio of 15.23, a PEG ratio of 3.03 and a beta of 1.26.

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

Insider Activity at Canadian Imperial Bank of Commerce

In other news, insider Frank Guse sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total value of C$635,800.00. Following the sale, the insider owned 1,359 shares of the company’s stock, valued at approximately C$172,810.44. This represents a 78.63% decrease in their position. Corporate insiders own 0.02% of the company’s stock.

About Canadian Imperial Bank of Commerce

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.