Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective lifted by equities research analysts at Raymond James Financial from C$127.00 to C$132.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James Financial’s price objective would suggest a potential upside of 4.77% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Desjardins increased their price target on Canadian Imperial Bank of Commerce from C$126.00 to C$132.00 and gave the stock a “buy” rating in a research report on Friday. Canaccord Genuity Group raised their target price on Canadian Imperial Bank of Commerce from C$102.00 to C$111.00 and gave the stock a “hold” rating in a report on Friday, August 29th. Barclays lifted their price target on Canadian Imperial Bank of Commerce from C$106.00 to C$119.00 and gave the company an “underweight” rating in a research report on Monday, November 24th. Jefferies Financial Group upped their price objective on Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the stock a “hold” rating in a research report on Tuesday, November 25th. Finally, TD Securities lifted their target price on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the company a “buy” rating in a report on Friday. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$120.54.

Canadian Imperial Bank of Commerce Trading Down 0.2%

TSE CM traded down C$0.31 on Friday, hitting C$125.99. 1,463,141 shares of the company’s stock traded hands, compared to its average volume of 3,342,767. Canadian Imperial Bank of Commerce has a 1-year low of C$76.17 and a 1-year high of C$126.98. The firm’s 50-day moving average price is C$116.59 and its two-hundred day moving average price is C$105.89. The firm has a market capitalization of C$117.12 billion, a PE ratio of 15.23, a P/E/G ratio of 3.03 and a beta of 1.45.

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

Canadian Imperial Bank of Commerce Company Profile

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.