Canaccord Genuity Group Boosts Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$92.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective raised by Canaccord Genuity Group from C$81.00 to C$92.00 in a report released on Tuesday,BayStreet.CA reports. Canaccord Genuity Group’s target price indicates a potential upside of 1.41% from the stock’s current price.

A number of other research analysts have also recently commented on CM. Scotiabank increased their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and raised their target price for the stock from C$75.00 to C$83.00 in a report on Friday, August 30th. TD Securities raised their price target on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. Jefferies Financial Group dropped their target price on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Barclays boosted their price target on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$83.00.

Canadian Imperial Bank of Commerce Trading Up 1.0 %

Shares of Canadian Imperial Bank of Commerce stock opened at C$90.72 on Tuesday. The business’s fifty day simple moving average is C$85.26 and its 200 day simple moving average is C$74.28. Canadian Imperial Bank of Commerce has a 12 month low of C$51.60 and a 12 month high of C$90.73. The firm has a market capitalization of C$85.73 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, topping analysts’ consensus estimates of C$1.75 by C$0.18. The company had revenue of C$6.60 billion for the quarter, compared to analysts’ expectations of C$6.31 billion. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. Analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Shawn Beber sold 10,000 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of C$81.80, for a total value of C$817,960.00. Also, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total value of C$441,791.70. Insiders sold 203,057 shares of company stock valued at $16,823,249 in the last three months. 0.02% of the stock is currently owned by insiders.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.