Canadian Imperial Bank of Commerce (CM) PT Raised to C$141.00 at Royal Bank of Canada

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective hoisted by Royal Bank of Canada from C$138.00 to C$141.00 in a research note issued on Friday. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 18.61% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Scotiabank lifted their price target on shares of Canadian Imperial Bank of Commerce from C$134.00 to C$135.00 and gave the company a “sector perform” rating in a research note on Friday. Barclays lifted their price target on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$133.00 in a research note on Friday. BMO Capital Markets lifted their price target on shares of Canadian Imperial Bank of Commerce from C$126.00 to C$130.00 and gave the company a “market perform” rating in a research note on Friday. Canaccord Genuity set a C$131.00 price target on shares of Canadian Imperial Bank of Commerce in a research note on Friday. Finally, Desjardins lifted their price target on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$134.00 in a research note on Friday. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of C$132.00.

Canadian Imperial Bank of Commerce (TSE CM) traded up C$1.95 on Friday, reaching C$118.88. 1,133,735 shares of the company’s stock traded hands, compared to its average volume of 1,413,707. Canadian Imperial Bank of Commerce has a 12-month low of C$103.84 and a 12-month high of C$124.37. The company has a market capitalization of $52,410.00, a P/E ratio of 10.88 and a beta of 0.72.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, November 30th. The company reported C$2.81 earnings per share for the quarter, beating the consensus estimate of C$2.62 by C$0.19. Canadian Imperial Bank of Commerce had a net margin of 27.27% and a return on equity of 15.90%. The firm had revenue of C$4.27 billion during the quarter, compared to the consensus estimate of C$4.19 billion.

In other news, Director Laura Lee Dottori-Attanasio sold 11,928 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of C$119.55, for a total transaction of C$1,425,992.40.

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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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