Canadian Imperial Bank of Commerce (TSE:CM) Upgraded by Scotiabank to “Strong-Buy” Rating

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) was upgraded by equities research analysts at Scotiabank to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages also recently commented on CM. UBS Group lowered their price objective on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research note on Friday, February 14th. National Bankshares decreased their price target on Canadian Imperial Bank of Commerce from C$101.00 to C$95.00 and set an “outperform” rating for the company in a report on Monday, April 7th. Royal Bank of Canada set a C$108.00 price objective on Canadian Imperial Bank of Commerce and gave the company an “outperform” rating in a research note on Monday, March 17th. TD Securities reduced their target price on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Jefferies Financial Group downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and lowered their target price for the company from C$100.00 to C$89.00 in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$94.31.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at C$91.78 on Thursday. The stock has a market capitalization of C$85.87 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52 week low of C$64.47 and a 52 week high of C$95.50. The stock has a 50 day moving average price of C$83.23 and a two-hundred day moving average price of C$87.45.

Insider Activity at Canadian Imperial Bank of Commerce

In other news, Senior Officer Sandy Sharman sold 1,027 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of C$81.27, for a total value of C$83,464.29. 0.02% of the stock is currently owned by insiders.

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.