Royal Bank Of Canada Lowers Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$147.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective reduced by equities researchers at Royal Bank Of Canada from C$158.00 to C$147.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 12.46% from the stock’s current price.

A number of other equities research analysts have also issued reports on CM. Jefferies Financial Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a report on Wednesday, February 11th. Raymond James Financial boosted their price target on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$148.50 and gave the stock a “market perform” rating in a research note on Friday, February 27th. Canaccord Genuity Group increased their price objective on Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the company a “hold” rating in a research note on Friday, February 27th. TD Securities lifted their target price on Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Scotiabank boosted their target price on Canadian Imperial Bank of Commerce from C$138.00 to C$153.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus target price of C$145.35.

Canadian Imperial Bank of Commerce Price Performance

Shares of TSE:CM opened at C$130.71 on Wednesday. The firm has a market capitalization of C$120.30 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 3.03 and a beta of 1.32. The firm’s 50-day moving average is C$132.01 and its two-hundred day moving average is C$123.46. Canadian Imperial Bank of Commerce has a 1 year low of C$76.17 and a 1 year high of C$143.80.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, February 26th. The company reported C$2.76 EPS for the quarter. The business had revenue of C$8.40 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. Analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

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.