Canadian Imperial Bank of Commerce (TSE:CM) Price Target Increased to C$83.00 by Analysts at Canaccord Genuity Group

Canadian Imperial Bank of Commerce (TSE:CMGet Rating) (NYSE:CM) had its price objective boosted by equities researchers at Canaccord Genuity Group from C$80.00 to C$83.00 in a note issued to investors on Friday, BayStreet.CA reports. Canaccord Genuity Group’s price objective would suggest a potential upside of 20.10% from the company’s previous close.

CM has been the subject of a number of other reports. National Bankshares increased their target price on shares of Canadian Imperial Bank of Commerce from C$165.00 to C$167.00 in a report on Wednesday, February 23rd. TD Securities raised their price target on shares of Canadian Imperial Bank of Commerce from C$180.00 to C$185.00 and gave the company a “buy” rating in a research report on Monday, February 28th. Fundamental Research raised their price target on shares of Canadian Imperial Bank of Commerce from C$160.31 to C$176.88 and gave the company a “buy” rating in a research report on Monday, March 7th. CSFB set a C$81.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company an “outperform” rating in a research report on Friday, May 20th. Finally, Scotiabank reduced their price target on shares of Canadian Imperial Bank of Commerce from C$166.00 to C$83.00 and set an “outperform” rating for the company in a research report on Friday, May 20th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$125.71.

TSE CM traded up C$0.44 during trading on Friday, hitting C$69.11. 1,482,795 shares of the company’s stock traded hands, compared to its average volume of 3,208,855. The stock has a fifty day moving average of C$133.32 and a two-hundred day moving average of C$147.02. Canadian Imperial Bank of Commerce has a 12-month low of C$66.05 and a 12-month high of C$83.75. The firm has a market cap of C$62.38 billion and a P/E ratio of 9.60.

Canadian Imperial Bank of Commerce (TSE:CMGet Rating) (NYSE:CM) last posted its quarterly earnings results on Friday, February 25th. The company reported C$4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of C$3.61 by C$0.47. The business had revenue of C$5.50 billion for the quarter. On average, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 7.7600002 earnings per share for the current year.

In other news, Director Harry Kenneth Culham sold 2,500 shares of the company’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of C$158.98, for a total value of C$397,450.00. Following the sale, the director now directly owns 2,434 shares of the company’s stock, valued at approximately C$386,957.32. Over the last quarter, insiders sold 12,449 shares of company stock worth $1,973,187.

About Canadian Imperial Bank of Commerce (Get Rating)

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 four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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