Scotiabank Increases Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$108.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price increased by research analysts at Scotiabank from C$85.00 to C$108.00 in a research report issued on Monday,BayStreet.CA reports. Scotiabank’s target price would suggest a potential upside of 18.60% from the company’s current price.

A number of other research firms also recently issued reports on CM. Jefferies Financial Group dropped their price target on Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and upped their price objective for the stock from C$74.00 to C$90.00 in a research note on Friday, August 30th. Barclays upped their price objective on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a research note on Friday, August 30th. BMO Capital Markets upped their price objective on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. Finally, Royal Bank of Canada upped their price objective on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$87.17.

Canadian Imperial Bank of Commerce Stock Down 0.4 %

CM opened at C$91.06 on Monday. The business has a fifty day moving average of C$86.05 and a 200 day moving average of C$75.02. Canadian Imperial Bank of Commerce has a 52-week low of C$51.60 and a 52-week high of C$92.17. The stock has a market cap of C$86.05 billion, a P/E ratio of 13.18, a PEG ratio of 3.03 and a beta of 1.12.

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

Insider Activity

In related news, Director Harry Kenneth Culham sold 50,000 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of C$83.42, for a total transaction of C$4,170,750.00. Also, Senior Officer Sandy Sharman sold 2,275 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$83.04, for a total value of C$188,916.00. Insiders have sold a total of 203,057 shares of company stock worth $16,823,249 over the last quarter. 0.02% of the stock is currently owned by corporate insiders.

About Canadian Imperial Bank of Commerce

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.