Canadian Imperial Bank of Commerce (CM) Price Target Lowered to C$124.00 at Barclays

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective reduced by Barclays from C$125.00 to C$124.00 in a report issued on Friday, February 16th. Barclays’ target price would indicate a potential upside of 4.39% from the stock’s current price.

A number of other research firms have also recently commented on CM. Canaccord Genuity set a C$121.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, November 1st. CSFB raised their price objective on shares of Canadian Imperial Bank of Commerce from C$125.00 to C$134.00 in a research note on Friday, January 19th. Royal Bank of Canada raised their price target on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$138.00 in a research report on Wednesday, February 14th. Scotiabank raised their price target on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$135.00 in a research report on Friday, December 1st. Finally, National Bank Financial lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$125.00 to C$133.00 and gave the stock an “outperform” rating in a research report on Friday, December 1st. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of C$132.00.

Shares of Canadian Imperial Bank of Commerce (CM) traded up C$1.86 during midday trading on Friday, reaching C$118.79. 1,123,889 shares of the company’s stock traded hands, compared to its average volume of 1,412,957. Canadian Imperial Bank of Commerce has a 1 year low of C$103.84 and a 1 year high of C$124.37. The firm has a market cap of $52,410.00, a PE ratio of 10.88 and a beta of 0.72.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, November 30th. The company reported C$2.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$2.62 by C$0.19. The company had revenue of C$4.27 billion during the quarter, compared to analysts’ expectations of C$4.19 billion. Canadian Imperial Bank of Commerce had a net margin of 27.27% and a return on equity of 15.90%.

In other news, Director Laura Lee Dottori-Attanasio sold 11,928 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of C$119.55, for a total value of C$1,425,992.40.

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About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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