Canadian Imperial Bank of Commerce (TSE:CM) Upgraded by Barclays to Overweight Rating

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) was upgraded by analysts at Barclays from an “underweight” rating to an “overweight” rating in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a C$137.00 target price on the stock, up from their prior target price of C$126.00. Barclays‘s price objective would suggest a potential upside of 2.16% from the company’s current price.

Several other brokerages also recently issued reports on CM. Scotiabank upped their price objective on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research note on Friday, January 9th. BMO Capital Markets raised their price objective on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a report on Wednesday, December 17th. Raymond James Financial lifted their price objective on Canadian Imperial Bank of Commerce from C$122.00 to C$135.00 and gave the company a “market perform” rating in a research report on Tuesday. Canaccord Genuity Group increased their target price on Canadian Imperial Bank of Commerce from C$129.00 to C$136.00 and gave the stock a “hold” rating in a research report on Thursday, February 12th. Finally, Desjardins raised their price target on Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and an average price target of C$135.40.

Canadian Imperial Bank of Commerce Stock Up 1.3%

Shares of CM traded up C$1.69 during trading hours on Thursday, reaching C$134.10. 1,068,325 shares of the company traded hands, compared to its average volume of 2,526,732. The stock has a market capitalization of C$124.26 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26. Canadian Imperial Bank of Commerce has a fifty-two week low of C$76.17 and a fifty-two week high of C$134.33. The stock has a fifty day simple moving average of C$127.88 and a 200 day simple moving average of C$117.78.

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

Insider Activity

In related news, insider Frank Guse sold 5,000 shares of Canadian Imperial Bank of Commerce stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the transaction, the insider owned 1,359 shares in the company, valued at approximately C$172,810.44. The trade was a 78.63% decrease in their position. 0.02% of the stock is owned by insiders.

Canadian Imperial Bank of Commerce Company Profile

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.