Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price hoisted by research analysts at Canaccord Genuity Group from C$92.00 to C$99.00 in a research note issued to investors on Friday,BayStreet.CA reports. Canaccord Genuity Group’s price target points to a potential upside of 4.93% from the company’s previous close.

Other research analysts have also issued research reports about the company. Cormark raised their target price on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday. Barclays lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a report on Friday, August 30th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and increased their target price for the company from C$74.00 to C$90.00 in a report on Friday, August 30th. BMO Capital Markets raised their price target on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. Finally, Scotiabank upped their price objective on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research report on Friday. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$90.00.

Canadian Imperial Bank of Commerce Stock Up 0.9 %

Shares of CM opened at C$94.35 on Friday. The business’s fifty day moving average is C$87.10 and its 200 day moving average is C$76.21. Canadian Imperial Bank of Commerce has a 12-month low of C$57.52 and a 12-month high of C$94.81. The stock has a market cap of C$89.16 billion, a P/E ratio of 13.65, a P/E/G ratio of 3.03 and a beta of 1.12.

Insiders Place Their Bets

In other news, Director Harry Kenneth Culham sold 800 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Monday, September 30th. The shares were sold at an average price of C$83.20, for a total value of C$66,560.00. Also, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$83.40, for a total transaction of C$3,087,634.80. Insiders sold 197,527 shares of company stock valued at $16,381,457 over the last ninety days. 0.02% of the stock is currently owned by 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.