Scotiabank Issues Pessimistic Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective lowered by investment analysts at Scotiabank from C$114.00 to C$95.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 9.71% from the stock’s current price.

CM has been the topic of a number of other research reports. UBS Group dropped their price target on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research note on Friday, February 14th. TD Securities boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. BMO Capital Markets upped their price objective on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. Cormark lifted their target price on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. Finally, Canaccord Genuity Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$93.00.

Canadian Imperial Bank of Commerce Stock Down 0.9 %

TSE CM opened at C$86.59 on Thursday. The firm has a market capitalization of C$81.01 billion, a PE ratio of 11.44, a P/E/G ratio of 3.03 and a beta of 1.12. The stock’s 50 day moving average is C$90.33 and its 200 day moving average is C$85.29. Canadian Imperial Bank of Commerce has a twelve month low of C$62.59 and a twelve month high of C$95.50.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Senior Officer Susan Rimmer sold 1,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of C$93.14, for a total transaction of C$93,140.00. Also, Senior Officer Robert Sedran sold 20,652 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of C$94.97, for a total transaction of C$1,961,227.51. Insiders sold a total of 177,012 shares of company stock valued at $16,687,218 in the last three months. 0.02% of the stock is currently owned by corporate insiders.

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.