Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) was downgraded by Citigroup Inc. from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday. They presently have a C$120.00 price target on the stock, up from their previous price target of C$113.00. Citigroup Inc.’s price objective points to a potential upside of 6.04% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Canaccord Genuity reiterated a “buy” rating and set a C$116.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 25th. TD Securities upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a C$120.00 target price on the stock in a report on Wednesday, September 6th. Scotiabank increased their target price on shares of Canadian Imperial Bank of Commerce from C$118.00 to C$120.00 and gave the stock a “sector perform” rating in a report on Monday, August 21st. Keefe, Bruyette & Woods increased their target price on shares of Canadian Imperial Bank of Commerce from C$115.00 to C$116.00 in a report on Tuesday, August 22nd. Finally, BMO Capital Markets reiterated a “market perform” rating and set a C$118.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of C$118.17.

Canadian Imperial Bank of Commerce (TSE:CM) opened at 113.16 on Wednesday. The company’s 50-day moving average is $109.79 and its 200-day moving average is $108.15. Canadian Imperial Bank of Commerce has a 12 month low of $97.52 and a 12 month high of $120.83. The stock has a market capitalization of $49.33 billion and a PE ratio of 10.29.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, August 24th. The company reported C$2.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$2.63 by C$0.14. Canadian Imperial Bank of Commerce had a net margin of 26.73% and a return on equity of 16.50%. The company had revenue of C$4.10 billion for the quarter, compared to analysts’ expectations of C$4.01 billion. Equities research analysts forecast that Canadian Imperial Bank of Commerce will post $10.91 EPS for the current year.

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In related news, Director Katharine Berghuis Stevenson acquired 400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average cost of C$105.19 per share, with a total value of C$42,076.00. Also, Director Michelle Lynn Collins acquired 1,186 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was bought at an average cost of C$84.30 per share, with a total value of C$99,979.80.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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

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