Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$67.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target raised by analysts at Desjardins from C$66.00 to C$67.00 in a research report issued on Monday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price target suggests a potential upside of 1.45% from the company’s previous close.

A number of other brokerages also recently issued reports on CM. BMO Capital Markets boosted their price target on shares of Canadian Imperial Bank of Commerce from C$68.00 to C$74.00 in a research report on Friday, April 5th. Scotiabank boosted their target price on shares of Canadian Imperial Bank of Commerce from C$67.00 to C$69.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Cormark increased their price target on Canadian Imperial Bank of Commerce from C$64.00 to C$68.00 in a report on Friday, March 1st. Royal Bank of Canada upped their target price on Canadian Imperial Bank of Commerce from C$63.00 to C$68.00 and gave the company a “sector perform” rating in a research report on Friday, March 1st. Finally, TD Securities upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$65.00 to C$70.00 in a report on Friday, March 1st. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus target price of C$65.88.

Canadian Imperial Bank of Commerce Stock Up 0.8 %

TSE CM traded up C$0.53 on Monday, hitting C$66.04. The company’s stock had a trading volume of 621,630 shares, compared to its average volume of 3,843,806. The company’s 50-day moving average is C$66.32 and its 200 day moving average is C$61.04. The firm has a market cap of C$61.90 billion, a PE ratio of 10.09, a PEG ratio of 3.01 and a beta of 1.10. Canadian Imperial Bank of Commerce has a 1-year low of C$47.44 and a 1-year high of C$69.42.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, February 29th. The company reported C$1.81 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.69 by C$0.12. The business had revenue of C$6.22 billion during the quarter, compared to the consensus estimate of C$6.07 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.14% and a net margin of 29.50%. On average, equities analysts expect that Canadian Imperial Bank of Commerce will post 6.8168574 EPS for the current year.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.