Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity in a report issued on Friday. They currently have a C$116.00 price objective on the stock. Canaccord Genuity’s price objective points to a potential upside of 9.88% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a C$118.00 price target on shares of Canadian Imperial Bank of Commerce in a research note on Friday. Keefe, Bruyette & Woods lifted their price target on shares of Canadian Imperial Bank of Commerce from C$115.00 to C$116.00 in a research note on Tuesday. Scotiabank lifted their price target on shares of Canadian Imperial Bank of Commerce from C$118.00 to C$120.00 and gave the stock a “sector perform” rating in a research note on Monday. Barclays PLC lifted their price target on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$110.00 in a research note on Friday, August 11th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a C$119.00 price target on shares of Canadian Imperial Bank of Commerce in a research note on Friday, May 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of C$118.64.

Shares of Canadian Imperial Bank of Commerce (TSE CM) traded up 0.60% during mid-day trading on Friday, reaching $106.20. The company’s stock had a trading volume of 648,924 shares. Canadian Imperial Bank of Commerce has a one year low of $97.52 and a one year high of $120.83. The stock has a market cap of $42.65 billion and a P/E ratio of 8.85. The stock has a 50 day moving average of $107.51 and a 200-day moving average of $110.69.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, August 24th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.63 by $0.14. Canadian Imperial Bank of Commerce had a net margin of 28.39% and a return on equity of 17.23%. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.01 billion. On average, equities research analysts expect that Canadian Imperial Bank of Commerce will post $10.85 EPS for the current fiscal year.

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In other Canadian Imperial Bank of Commerce news, insider Sandy Sharman sold 6,786 shares of the firm’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of C$106.10, for a total transaction of C$719,994.60.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada and internationally. It operates through three business units: Retail and Business Banking, Wealth Management, and Capital Markets.

Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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