Canadian Imperial Bank of Commerce (TSE:CM) Price Target Cut to C$62.00 by Analysts at National Bankshares

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target cut by research analysts at National Bankshares from C$64.00 to C$62.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bankshares’ price objective indicates a potential upside of 14.60% from the company’s current price.

A number of other analysts also recently issued reports on CM. CSFB lowered their price objective on shares of Canadian Imperial Bank of Commerce from C$65.00 to C$60.00 in a report on Tuesday, May 16th. Royal Bank of Canada lowered their price objective on shares of Canadian Imperial Bank of Commerce from C$72.00 to C$67.00 and set a “sector perform” rating on the stock in a report on Friday. Scotiabank lowered their price objective on shares of Canadian Imperial Bank of Commerce from C$66.00 to C$62.00 and set a “sector perform” rating on the stock in a report on Monday, August 21st. Fundamental Research set a C$69.38 price objective on shares of Canadian Imperial Bank of Commerce and gave the company a “buy” rating in a report on Tuesday, June 6th. Finally, CIBC lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$62.00 to C$64.00 in a report on Monday, July 24th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and a consensus target price of C$63.06.

Canadian Imperial Bank of Commerce Price Performance

CM traded up C$0.56 during trading on Friday, reaching C$54.10. The company had a trading volume of 1,826,227 shares, compared to its average volume of 3,319,225. Canadian Imperial Bank of Commerce has a 12 month low of C$53.01 and a 12 month high of C$65.24. The business’s fifty day moving average price is C$56.01 and its 200 day moving average price is C$57.24. The company has a market cap of C$49.65 billion, a P/E ratio of 10.43, a PEG ratio of 31.58 and a beta of 1.02.

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.