Scotiabank 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 Scotiabank from C$123.00 to C$133.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 5.56% from the stock’s previous close.

A number of other research analysts have also commented on the company. Jefferies Financial Group increased their price objective on Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the company a “hold” rating in a report on Tuesday, November 25th. National Bankshares set a C$110.00 target price on Canadian Imperial Bank of Commerce and gave the stock a “sector perform” rating in a research report on Monday, September 22nd. Canaccord Genuity Group increased 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 lifted their price target on shares of Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a research report on Friday, August 29th. Finally, Royal Bank Of Canada boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$112.00 to C$113.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$120.54.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock traded down C$0.31 on Friday, hitting 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. Canadian Imperial Bank of Commerce has a fifty-two week low of C$76.17 and a fifty-two week high of C$126.98. The firm’s fifty day moving average price is C$116.59 and its 200-day moving average price is C$105.89. The stock has a market capitalization of C$117.12 billion, a price-to-earnings 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 posted its earnings results on Thursday, December 4th. The company reported C$2.21 EPS 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. Analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS 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.