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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective upped by stock analysts at Desjardins from C$126.00 to C$132.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ target price would indicate a potential upside of 4.77% from the company’s current price.

A number of other brokerages have also recently weighed in on CM. Jefferies Financial Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the stock a “hold” rating in a report on Tuesday, November 25th. Raymond James Financial set a C$127.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the company a “market perform” rating in a research report on Tuesday, November 25th. TD Securities increased their price objective on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the stock a “buy” rating in a research note on Friday. Scotiabank lifted their target price on Canadian Imperial Bank of Commerce from C$123.00 to C$133.00 and gave the company an “outperform” rating in a research note on Friday. Finally, BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a report on Friday, August 29th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$120.54.

Canadian Imperial Bank of Commerce Stock Down 0.2%

TSE:CM traded down C$0.31 during trading hours on Friday, reaching C$125.99. 1,463,141 shares of the stock were exchanged, compared to its average volume of 3,342,767. The stock has a market capitalization of C$117.12 billion, a P/E ratio of 15.23, a P/E/G ratio of 3.03 and a beta of 1.45. The firm has a 50 day simple moving average of C$116.59 and a 200-day simple moving average of C$105.89. Canadian Imperial Bank of Commerce has a 52 week low of C$76.17 and a 52 week high of C$126.98.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%.The business had revenue of C$7.58 billion for the quarter. As a group, analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.