Canaccord Genuity Group Forecasts Strong Price Appreciation for Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price increased by analysts at Canaccord Genuity Group from C$153.00 to C$158.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 6.90% from the stock’s current price.

Several other research firms also recently weighed in on CM. Jefferies Financial Group lifted their price target on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research note on Wednesday, May 20th. Desjardins lifted their price target on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Royal Bank Of Canada decreased their price target on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Barclays lifted their price target on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research note on Monday, March 2nd. Finally, TD decreased their price target on shares of Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating for the company in a research note on Friday. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus target price of C$152.86.

Canadian Imperial Bank of Commerce Stock Performance

TSE CM traded down C$3.16 during trading on Friday, hitting C$147.80. The stock had a trading volume of 1,734,083 shares, compared to its average volume of 2,541,456. The stock has a market capitalization of C$136.03 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 3.03 and a beta of 1.30. Canadian Imperial Bank of Commerce has a one year low of C$91.94 and a one year high of C$162.12. The stock has a 50 day simple moving average of C$145.42 and a 200 day simple moving average of C$134.05.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, May 28th. The company reported C$2.54 earnings per share (EPS) for the quarter. The business had revenue of C$8.01 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. On average, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.