Barclays Trims Canadian Imperial Bank of Commerce (TSE:CM) Target Price to C$143.00

Canadian Imperial Bank of Commerce (TSE:CMGet Rating) (NYSE:CM) had its price objective cut by analysts at Barclays to C$143.00 in a report released on Wednesday, Stock Target Advisor reports. Barclays‘s price target would suggest a potential upside of 4.49% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Scotiabank decreased their target price on shares of Canadian Imperial Bank of Commerce from C$184.00 to C$166.00 in a research report on Wednesday, April 13th. Canaccord Genuity Group raised their price objective on Canadian Imperial Bank of Commerce from C$173.00 to C$178.00 in a report on Monday, February 28th. TD Securities raised their price objective on Canadian Imperial Bank of Commerce from C$180.00 to C$185.00 and gave the company a “buy” rating in a research note on Monday, February 28th. National Bankshares boosted their price target on shares of Canadian Imperial Bank of Commerce from C$165.00 to C$167.00 in a research note on Wednesday, February 23rd. Finally, BMO Capital Markets lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$165.00 to C$170.00 in a report on Monday, February 28th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$166.93.

Shares of TSE CM traded down C$0.92 during mid-day trading on Wednesday, reaching C$136.86. 582,185 shares of the company were exchanged, compared to its average volume of 1,642,854. The stock has a market capitalization of C$61.76 billion and a P/E ratio of 9.51. The company’s 50-day simple moving average is C$150.97 and its 200-day simple moving average is C$152.39. Canadian Imperial Bank of Commerce has a twelve month low of C$129.74 and a twelve month high of C$167.50.

Canadian Imperial Bank of Commerce (TSE:CMGet Rating) (NYSE:CM) last issued its quarterly earnings data on Friday, February 25th. The company reported C$4.08 EPS for the quarter, beating analysts’ consensus estimates of C$3.61 by C$0.47. The firm had revenue of C$5.50 billion during the quarter. As a group, analysts expect that Canadian Imperial Bank of Commerce will post 15.6599986 earnings per share for the current fiscal year.

In related news, Director Harry Kenneth Culham sold 2,500 shares of the firm’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of C$159.22, for a total transaction of C$398,050.00. Following the completion of the transaction, the director now directly owns 3,994 shares of the company’s stock, valued at C$635,924.68. Insiders sold a total of 12,449 shares of company stock valued at $1,973,187 over the last 90 days.

About Canadian Imperial Bank of Commerce (Get Rating)

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 four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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