Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, TD Securities Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price hoisted by stock analysts at TD Securities from C$110.00 to C$117.00 in a research report issued on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price target indicates a potential upside of 10.28% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group set a C$96.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the company a “hold” rating in a report on Tuesday, June 24th. National Bankshares boosted their price objective on shares of 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 shares of Canadian Imperial Bank of Commerce to a “strong-buy” rating in a report on Thursday, May 15th. Desjardins upped their target price on shares of 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. Finally, Barclays upped their target price on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$96.00 and gave the company an “underweight” rating in a report on Thursday, August 14th. Four 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. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Hold” and a consensus target price of C$108.25.

Canadian Imperial Bank of Commerce Trading Up 0.2%

CM stock opened at C$106.09 on Friday. The firm’s 50-day moving average price is C$99.88 and its two-hundred day moving average price is C$91.18. Canadian Imperial Bank of Commerce has a 12-month low of C$75.37 and a 12-month high of C$107.13. The stock has a market capitalization of C$98.61 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 3.03 and a beta of 1.34.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Senior Officer Christina Charlotte Kramer sold 43,490 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of C$93.07, for a total value of C$4,047,614.30. Also, Senior Officer John Hountalas sold 32,018 shares of the 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. Insiders have sold 105,837 shares of company stock worth $9,903,590 over the last three months. 0.02% of the stock is owned by company 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.