Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$160.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective increased by analysts at Canaccord Genuity Group from C$158.00 to C$160.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 5.21% from the company’s current price.

CM has been the subject of a number of other reports. Jefferies Financial Group raised their target price on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a report on Wednesday, May 20th. TD cut their target price on Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating on the stock in a research report on Friday, May 29th. National Bank Financial lifted their price target on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a research report on Friday, May 15th. Barclays lifted their price target on Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research report on Monday, March 2nd. Finally, Royal Bank Of Canada cut their price target on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$153.05.

Canadian Imperial Bank of Commerce Trading Up 0.3%

TSE:CM traded up C$0.49 during trading hours on Friday, hitting C$152.08. The company had a trading volume of 736,476 shares, compared to its average volume of 2,548,045. The company has a market cap of C$139.97 billion, a P/E ratio of 15.09, a P/E/G ratio of 3.03 and a beta of 1.30. Canadian Imperial Bank of Commerce has a 1 year low of C$91.94 and a 1 year high of C$162.12. The company has a 50-day moving average of C$147.20 and a 200 day moving average of C$135.05.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. The business had revenue of C$8.01 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%. On average, analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share 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.