Scotiabank Forecasts Strong Price Appreciation for Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target upped by equities research analysts at Scotiabank from C$153.00 to C$159.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 5.80% from the company’s current price.

CM has been the subject of several other research reports. TD Securities upped their price target 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 report on Friday, February 27th. Barclays upped their price target on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research report on Monday, March 2nd. Royal Bank Of Canada reduced their price target on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Canaccord Genuity Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the company a “hold” rating in a research report on Friday, February 27th. Finally, BMO Capital Markets upped their price target 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 report on Friday, February 27th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and a consensus price target of C$145.95.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock traded down C$2.21 during trading hours on Monday, hitting C$150.29. The company had a trading volume of 788,344 shares, compared to its average volume of 2,684,315. The company’s 50-day moving average is C$138.68 and its two-hundred day moving average is C$129.11. Canadian Imperial Bank of Commerce has a twelve month low of C$87.54 and a twelve month high of C$153.71. The company has a market cap of C$138.32 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 3.03 and a beta of 1.21.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results 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 business had revenue of C$8.40 billion during the quarter. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current 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.