Canaccord Genuity Group Issues Pessimistic Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective reduced by equities research analysts at Canaccord Genuity Group from C$93.00 to C$92.00 in a research note issued on Monday,BayStreet.CA reports. Canaccord Genuity Group’s price objective points to a potential upside of 1.87% from the stock’s current price.

Several other brokerages have also recently issued reports on CM. TD Securities dropped their target price on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and dropped their target price for the company from C$100.00 to C$89.00 in a research report on Monday, April 21st. UBS Group dropped their target price on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. National Bankshares dropped their target price on Canadian Imperial Bank of Commerce from C$101.00 to C$95.00 and set an “outperform” rating on the stock in a research report on Monday, April 7th. Finally, Royal Bank of Canada set a C$108.00 target price on Canadian Imperial Bank of Commerce and gave the company an “outperform” rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$94.31.

Canadian Imperial Bank of Commerce Trading Up 1.4%

Shares of TSE CM opened at C$90.31 on Monday. The stock has a market capitalization of C$84.49 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The stock’s fifty day simple moving average is C$82.80 and its two-hundred day simple moving average is C$87.38. Canadian Imperial Bank of Commerce has a 12-month low of C$64.47 and a 12-month high of C$95.50.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Sandy Sharman sold 1,027 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Friday, March 21st. The stock was sold at an average price of C$81.27, for a total transaction of C$83,464.29. Insiders own 0.02% of the company’s stock.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.