Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) was upgraded by equities researchers at Barclays from an “underweight” rating to an “outperform” rating in a research note issued on Tuesday, December 19th.
Other equities research analysts have also issued reports about the company. National Bank Financial increased their target price on Canadian Imperial Bank of Commerce from C$125.00 to C$133.00 and gave the stock an “outperform” rating in a research report on Friday, December 1st. BMO Capital Markets reissued a “market perform” rating and issued a C$118.00 price target on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 25th. TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a C$120.00 price target for the company in a research note on Wednesday, September 6th. Canaccord Genuity reissued a “buy” rating and issued a C$116.00 price target on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 25th. Finally, Scotiabank raised their target price on Canadian Imperial Bank of Commerce from C$118.00 to C$120.00 and gave the company a “sector perform” rating in a research note on Monday, August 21st. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of C$125.50.
Canadian Imperial Bank of Commerce (TSE:CM) traded down C$0.04 during mid-day trading on Tuesday, hitting C$122.95. The company had a trading volume of 1,207,700 shares, compared to its average volume of 1,570,000. Canadian Imperial Bank of Commerce has a twelve month low of C$103.84 and a twelve month high of C$124.37. The firm has a market cap of $54,290.00, a price-to-earnings ratio of 10.91 and a beta of 0.77.
In related news, Director Laura Lee Dottori-Attanasio sold 11,928 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of C$119.55, for a total value of C$1,425,992.40.
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About Canadian Imperial Bank of Commerce
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.
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