Canadian Imperial Bank of Commerce (TSE:CM) Stock Rating Upgraded by Scotiabank

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) was upgraded by stock analysts at Scotiabank to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada set a C$108.00 target price on shares of Canadian Imperial Bank of Commerce and gave the company an “outperform” rating in a report on Monday, March 17th. Canaccord Genuity Group decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a research report on Monday, May 12th. National Bankshares dropped their target price on Canadian Imperial Bank of Commerce from C$101.00 to C$95.00 and set an “outperform” rating on the stock in a research report on Monday, April 7th. TD Securities cut their price target on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, UBS Group lowered their price target on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$94.31.

Canadian Imperial Bank of Commerce Stock Up 1.0%

Canadian Imperial Bank of Commerce stock opened at C$92.71 on Thursday. The business’s 50-day moving average price is C$83.49 and its 200 day moving average price is C$87.49. The firm has a market cap of C$86.74 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52 week low of C$64.47 and a 52 week high of C$95.50.

Insiders Place Their Bets

In related news, Senior Officer Sandy Sharman sold 1,027 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of C$81.27, for a total value of C$83,464.29. 0.02% of the stock is currently owned by corporate insiders.

About Canadian Imperial Bank of Commerce

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.