Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target raised by analysts at Canaccord Genuity Group from C$102.00 to C$111.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 4.63% from the stock’s previous close.

A number of other research analysts have also commented on the company. Desjardins increased their price objective on Canadian Imperial Bank of Commerce from C$100.00 to C$106.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. National Bankshares increased their price objective on Canadian Imperial Bank of Commerce from C$99.00 to C$110.00 and gave the company a “sector perform” rating in a report on Friday. Scotiabank raised Canadian Imperial Bank of Commerce to a “strong-buy” rating in a report on Thursday, May 15th. Royal Bank Of Canada increased their price objective on Canadian Imperial Bank of Commerce from C$112.00 to C$113.00 and gave the company an “outperform” rating in a report on Friday. Finally, TD Securities increased their price objective on Canadian Imperial Bank of Commerce from C$110.00 to C$117.00 and gave the company a “buy” rating in a report on Friday. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average price target of C$108.25.

Canadian Imperial Bank of Commerce Price Performance

CM opened at C$106.09 on Friday. Canadian Imperial Bank of Commerce has a fifty-two week low of C$75.37 and a fifty-two week high of C$107.13. The business has a 50-day moving average of C$99.88 and a 200-day moving average of C$91.18. The company has a market capitalization of C$98.61 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 3.03 and a beta of 1.34.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer John Hountalas sold 32,018 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of C$93.87, for a total value of C$3,005,657.73. Also, Senior Officer Christina Charlotte Kramer sold 43,490 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of C$93.07, for a total value of C$4,047,614.30. Insiders have sold a total of 105,837 shares of company stock worth $9,903,590 over the last 90 days. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

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.