Canadian Imperial Bank of Commerce (TSE:CM) Given New C$157.50 Price Target at Raymond James Financial

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective upped by investment analysts at Raymond James Financial from C$148.50 to C$157.50 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “market perform” rating on the stock. Raymond James Financial’s price objective would suggest a potential upside of 4.24% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Desjardins upped their price objective on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Jefferies Financial Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research note on Wednesday, February 11th. BMO Capital Markets upped their price objective on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. TD Securities upped their price objective on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, National Bank Financial upped their price objective on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$150.00 and gave the company a “sector perform” rating in a research note on Friday, February 27th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$150.50.

Canadian Imperial Bank of Commerce Price Performance

TSE CM traded down C$1.80 during trading hours on Wednesday, hitting C$151.09. 474,329 shares of the company’s stock traded hands, compared to its average volume of 2,629,940. Canadian Imperial Bank of Commerce has a 52-week low of C$90.50 and a 52-week high of C$154.25. The company has a market capitalization of C$139.06 billion, a PE ratio of 15.75, a PEG ratio of 3.03 and a beta of 1.30. The firm’s 50-day moving average is C$140.37 and its 200-day moving average is C$130.72.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, February 26th. The company reported C$2.76 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. The company had revenue of C$8.40 billion during the quarter. Equities research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.