Canaccord Genuity Reiterates C$108.00 Price Target for Canadian Imperial Bank of Commerce (TSE:CM)

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Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) received a C$108.00 target price from stock analysts at Canaccord Genuity in a research report issued on Friday, BayStreet.CA reports. Canaccord Genuity’s target price would suggest a potential downside of 2.09% from the company’s previous close.

Other research analysts have also issued research reports about the company. TD Securities dropped their target price on Canadian Imperial Bank of Commerce from C$120.00 to C$115.00 and set a “hold” rating for the company in a research report on Friday. BMO Capital Markets reduced their target price on Canadian Imperial Bank of Commerce from C$120.00 to C$117.00 in a research note on Friday, August 23rd. National Bank Financial decreased their target price on Canadian Imperial Bank of Commerce from C$114.00 to C$110.00 and set a “sector perform” rating for the company in a research report on Friday. Citigroup lowered their target price on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$115.00 in a research note on Monday, September 9th. Finally, Eight Capital cut their price target on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$107.00 in a report on Wednesday, August 14th. Seven investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of C$113.25.

Shares of Canadian Imperial Bank of Commerce stock traded up C$1.42 on Friday, reaching C$110.30. The company had a trading volume of 1,166,510 shares, compared to its average volume of 1,583,000. The firm has a market cap of $50.83 billion and a price-to-earnings ratio of 9.67. The firm’s 50-day moving average price is C$113.70 and its two-hundred day moving average price is C$106.77. Canadian Imperial Bank of Commerce has a 1 year low of C$97.55 and a 1 year high of C$115.96.

In other news, Director Katharine Berghuis Stevenson acquired 4,000 shares of Canadian Imperial Bank of Commerce stock in a transaction on Tuesday, September 17th. The shares were bought at an average cost of C$109.52 per share, for a total transaction of C$438,080.00. Following the acquisition, the director now directly owns 20,352 shares of the company’s stock, valued at approximately C$2,228,951.04.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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