Canadian Imperial Bank of Commerce (CM) PT Raised to C$141.00 at Royal Bank of Canada

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price boosted by investment analysts at Royal Bank of Canada from C$138.00 to C$141.00 in a report issued on Friday. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 18.49% from the company’s current price.

Several other research firms also recently weighed in on CM. Desjardins raised their price objective on Canadian Imperial Bank of Commerce from C$133.00 to C$134.00 in a research note on Friday. BMO Capital Markets raised their price objective on Canadian Imperial Bank of Commerce from C$126.00 to C$130.00 and gave the company a “market perform” rating in a research note on Friday. Scotiabank raised their price objective on Canadian Imperial Bank of Commerce from C$134.00 to C$135.00 and gave the company a “sector perform” rating in a research note on Friday. Canaccord Genuity set a C$121.00 price objective on Canadian Imperial Bank of Commerce in a research note on Wednesday, November 1st. Finally, Eight Capital raised their price target on Canadian Imperial Bank of Commerce from C$134.00 to C$139.00 in a research report on Friday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Canadian Imperial Bank of Commerce presently has an average rating of “Buy” and a consensus price target of C$132.00.

Canadian Imperial Bank of Commerce (TSE:CM) opened at C$119.00 on Friday. Canadian Imperial Bank of Commerce has a one year low of C$103.84 and a one year high of C$124.37. The firm has a market capitalization of $52,650.00, a P/E ratio of 10.90 and a beta of 0.72.

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

In other Canadian Imperial Bank of Commerce news, Director Laura Lee Dottori-Attanasio sold 11,928 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of C$119.55, for a total transaction 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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