Scotiabank Raises Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$123.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target boosted by research analysts at Scotiabank from C$121.00 to C$123.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 2.24% from the stock’s current price.

Several other brokerages have also recently issued reports on CM. National Bankshares set a C$110.00 price objective on Canadian Imperial Bank of Commerce and gave the stock a “sector perform” rating in a report on Monday, September 22nd. Desjardins lifted their price target on Canadian Imperial Bank of Commerce from C$106.00 to C$113.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. TD Securities boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$117.00 to C$124.00 in a research report on Monday, November 10th. BMO Capital Markets raised their target price on shares of Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a report on Friday, August 29th. Finally, Jefferies Financial Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a report on Wednesday, August 13th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$113.00.

Canadian Imperial Bank of Commerce Trading Up 0.4%

CM stock opened at C$120.30 on Tuesday. The firm has a 50 day moving average of C$115.48 and a 200-day moving average of C$104.72. The company has a market cap of C$111.83 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 3.03 and a beta of 1.42. Canadian Imperial Bank of Commerce has a 12-month low of C$76.17 and a 12-month high of C$122.56.

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.