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 price target hoisted by research analysts at Canaccord Genuity Group from C$153.00 to C$158.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 6.90% from the stock’s current price.

Other equities analysts have also issued reports about the stock. TD Securities lifted their price target on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the stock a “buy” rating in a report on Friday, February 27th. TD cut their price target on shares of Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank Of Canada cut their price target on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Barclays lifted their price target on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a report on Monday, March 2nd. Finally, Scotiabank lifted their price target on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$159.00 and gave the stock a “sector outperform” rating in a report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$152.86.

Canadian Imperial Bank of Commerce Price Performance

TSE CM traded down C$3.16 on Friday, hitting C$147.80. The stock had a trading volume of 1,734,083 shares, compared to its average volume of 2,541,456. The business’s fifty day moving average price is C$145.42 and its 200 day moving average price is C$134.05. Canadian Imperial Bank of Commerce has a 52-week low of C$91.94 and a 52-week high of C$162.12. The stock has a market cap of C$136.03 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 3.03 and a beta of 1.30.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. The business had revenue of C$8.01 billion for the quarter. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current 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.