Jefferies Financial Group Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price raised by equities research analysts at Jefferies Financial Group from C$106.00 to C$118.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price target points to a potential downside of 1.72% from the company’s previous close.

CM has been the topic of several other research reports. Scotiabank boosted their price target on shares of Canadian Imperial Bank of Commerce from C$121.00 to C$123.00 and gave the stock an “outperform” rating in a research report on Tuesday. Desjardins lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$113.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. National Bankshares set a C$110.00 target price on shares of Canadian Imperial Bank of Commerce and gave the company a “sector perform” rating in a research report on Monday, September 22nd. BMO Capital Markets increased their price target on shares of Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a report on Friday, August 29th. Finally, Royal Bank Of Canada lifted their price target on Canadian Imperial Bank of Commerce from C$112.00 to C$113.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$113.00.

Canadian Imperial Bank of Commerce Stock Performance

TSE:CM traded up C$1.46 during trading hours on Tuesday, reaching C$120.06. The stock had a trading volume of 751,006 shares, compared to its average volume of 3,374,350. The stock has a market capitalization of C$111.60 billion, a PE ratio of 14.52, a PEG ratio of 3.03 and a beta of 1.42. Canadian Imperial Bank of Commerce has a 52 week low of C$76.17 and a 52 week high of C$122.56. The company has a 50 day moving average price of C$115.10 and a two-hundred day moving average price of C$104.39.

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.