Canadian Imperial Bank of Commerce (TSE:CM) PT Raised to C$69.00 at Royal Bank of Canada

Canadian Imperial Bank of Commerce (TSE:CMGet Free Report) (NYSE:CM) had its price target raised by stock analysts at Royal Bank of Canada from C$68.00 to C$69.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 2.10% from the company’s current price.

A number of other analysts have also commented on the company. Jefferies Financial Group increased their price objective on Canadian Imperial Bank of Commerce from C$76.00 to C$77.00 in a research note on Monday, May 13th. Desjardins increased their price objective on Canadian Imperial Bank of Commerce from C$67.00 to C$71.00 and gave the company a “hold” rating in a research note on Friday. Scotiabank increased their price objective on Canadian Imperial Bank of Commerce from C$69.00 to C$73.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. BMO Capital Markets increased their price objective on Canadian Imperial Bank of Commerce from C$74.00 to C$77.00 in a research note on Friday. Finally, Barclays increased their target price on Canadian Imperial Bank of Commerce from C$70.00 to C$71.00 and gave the stock an “underweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$69.09.

View Our Latest Stock Analysis on Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at C$67.58 on Friday. The firm has a market capitalization of C$63.34 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of 3.01 and a beta of 1.11. Canadian Imperial Bank of Commerce has a fifty-two week low of C$47.44 and a fifty-two week high of C$69.54. The stock’s fifty day moving average is C$66.55 and its two-hundred day moving average is C$63.28.

Canadian Imperial Bank of Commerce (TSE:CMGet Free Report) (NYSE:CM) last posted its quarterly earnings data on Thursday, February 29th. The company reported C$1.81 EPS for the quarter, beating analysts’ consensus estimates of C$1.69 by C$0.12. The business had revenue of C$6.22 billion for the quarter, compared to analyst estimates 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%. As a group, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 6.7699387 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Company Profile

(Get Free Report)

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.

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