Jefferies Financial Group 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 objective boosted by research analysts at Jefferies Financial Group from C$123.00 to C$127.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Jefferies Financial Group’s target price indicates a potential downside of 2.14% from the stock’s previous close.

Several other brokerages also recently commented on CM. Desjardins raised their price target on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a report on Monday. BMO Capital Markets increased their price objective on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research report on Wednesday, December 17th. Scotiabank boosted their target price on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research report on Friday, January 9th. Raymond James Financial upped their target price on Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the stock a “market perform” rating in a research note on Friday, December 5th. Finally, TD Securities lifted their price target on Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research report on Monday. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$130.27.

Canadian Imperial Bank of Commerce Stock Down 1.4%

CM stock opened at C$129.78 on Wednesday. The stock has a 50-day simple moving average of C$127.44 and a two-hundred day simple moving average of C$116.78. Canadian Imperial Bank of Commerce has a twelve month low of C$76.17 and a twelve month high of C$133.80. The firm has a market capitalization of C$120.26 billion, a PE ratio of 15.14, a PEG ratio of 3.03 and a beta of 1.26.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. The firm had revenue of C$7.58 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. On average, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, insider Frank Guse sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the sale, the insider directly owned 1,359 shares of the company’s stock, valued at C$172,810.44. This trade represents a 78.63% decrease in their ownership of the stock. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.