Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, Barclays Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price increased by equities research analysts at Barclays from C$106.00 to C$119.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price target suggests a potential upside of 0.24% from the company’s current price.

CM has been the subject of a number of other research reports. Desjardins lifted their price objective on Canadian Imperial Bank of Commerce from C$106.00 to C$113.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Scotiabank upped their price objective on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$121.00 in a research note on Friday, October 10th. Canaccord Genuity Group raised their target price on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$111.00 and gave the stock a “hold” rating in a research report on Friday, August 29th. TD Securities lifted their target price on shares of Canadian Imperial Bank of Commerce from C$117.00 to C$124.00 in a research note on Monday, November 10th. Finally, BMO Capital Markets raised their price objective 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, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$110.33.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock traded up C$0.26 during mid-day trading on Monday, hitting C$118.71. The stock had a trading volume of 1,249,369 shares, compared to its average volume of 3,369,166. The firm has a market cap of C$110.35 billion, a PE ratio of 14.35, a PEG ratio of 3.03 and a beta of 1.42. Canadian Imperial Bank of Commerce has a fifty-two week low of C$76.17 and a fifty-two week high of C$122.56. The company’s 50-day simple moving average is C$114.92 and its 200-day simple moving average is C$104.18.

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.