National Bankshares 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 lifted by National Bankshares from C$98.00 to C$99.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bankshares’ price target points to a potential downside of 2.93% from the stock’s previous close.

CM has been the subject of several other reports. National Bank Financial cut shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 29th. Canaccord Genuity Group set a C$96.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock a “hold” rating in a research note on Tuesday, June 24th. Royal Bank Of Canada cut their price objective on Canadian Imperial Bank of Commerce from C$116.00 to C$112.00 and set an “outperform” rating on the stock in a research report on Monday, June 9th. Barclays upped their target price on Canadian Imperial Bank of Commerce from C$94.00 to C$96.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Jefferies Financial Group raised their target price on Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and a consensus target price of C$99.46.

Canadian Imperial Bank of Commerce Stock Down 0.0%

Shares of CM opened at C$101.99 on Friday. The stock has a market capitalization of C$95.42 billion, a P/E ratio of 13.47, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a twelve month low of C$70.71 and a twelve month high of C$102.45. The firm has a fifty day simple moving average of C$98.08 and a two-hundred day simple moving average of C$90.23.

Insider Buying and Selling

In other news, Senior Officer Hratch Dikran Panossian sold 9,006 shares of the firm’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of C$94.96, for a total transaction of C$855,240.38. Also, Senior Officer John Hountalas sold 32,018 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, June 5th. The shares were sold at an average price of C$93.87, for a total transaction of C$3,005,657.73. Over the last ninety days, insiders sold 105,837 shares of company stock worth $9,903,590. Company insiders own 0.02% of the company’s stock.

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.