Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective lifted by equities researchers at Royal Bank Of Canada from C$114.00 to C$131.00 in a research note issued on Friday,BayStreet.CA reports. Royal Bank Of Canada’s price target indicates a potential upside of 3.98% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. TD Securities increased their price objective on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the stock a “buy” rating in a research report on Friday. Barclays raised their price objective on Canadian Imperial Bank of Commerce from C$106.00 to C$119.00 and gave the company an “underweight” rating in a research note on Monday, November 24th. Jefferies Financial Group lifted their price target on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the company a “hold” rating in a research report on Tuesday, November 25th. Raymond James Financial upped their price objective on shares of Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the stock a “market perform” rating in a report on Friday. Finally, National Bankshares lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the company a “sector perform” rating in a report on Friday. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and an average target price of C$120.54.

Canadian Imperial Bank of Commerce Trading Down 0.2%

CM stock traded down C$0.31 during mid-day trading on Friday, reaching C$125.99. The company’s stock had a trading volume of 1,463,141 shares, compared to its average volume of 3,342,767. The company has a market cap of C$117.12 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 3.03 and a beta of 1.45. Canadian Imperial Bank of Commerce has a 12 month low of C$76.17 and a 12 month high of C$126.98. The business’s 50 day moving average price is C$116.59 and its 200 day moving average price is C$105.89.

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

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.