Jefferies Financial 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 target price lifted by analysts at Jefferies Financial Group from C$106.00 to C$118.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s target price suggests a potential downside of 1.72% from the stock’s previous close.

Several other analysts also recently commented on the company. National Bankshares set a C$110.00 target price on Canadian Imperial Bank of Commerce and gave the company a “sector perform” rating in a research note on Monday, September 22nd. Canaccord Genuity Group upped their price target on Canadian Imperial Bank of Commerce from C$102.00 to C$111.00 and gave the company a “hold” rating in a report on Friday, August 29th. BMO Capital Markets increased their price objective on Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a research report on Friday, August 29th. Desjardins lifted their price objective on Canadian Imperial Bank of Commerce from C$106.00 to C$113.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Finally, TD Securities upped their target price on shares of Canadian Imperial Bank of Commerce from C$117.00 to C$124.00 in a research note on Monday, November 10th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus price target of C$113.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM traded up C$1.46 during trading on Tuesday, reaching C$120.06. 751,006 shares of the stock traded hands, compared to its average volume of 3,374,350. The stock has a market cap of C$111.60 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 3.03 and a beta of 1.42. The stock has a 50-day moving average of C$115.10 and a two-hundred day moving average of C$104.39. Canadian Imperial Bank of Commerce has a 52-week low of C$76.17 and a 52-week high of C$122.56.

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.