TD Has Lowered Expectations for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) had its price target lowered by investment analysts at TD from C$166.00 to C$163.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD’s price target would indicate a potential upside of 10.28% from the stock’s previous close.

A number of other analysts also recently commented on the company. Raymond James Financial increased their price target on Canadian Imperial Bank of Commerce from C$148.50 to C$157.50 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Royal Bank Of Canada decreased their price target on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Jefferies Financial Group increased their price target on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research report on Wednesday, May 20th. Finally, Desjardins increased their price target on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$152.86.

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Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock traded down C$3.16 during trading hours on Friday, reaching C$147.80. The company had a trading volume of 1,734,083 shares, compared to its average volume of 2,541,456. Canadian Imperial Bank of Commerce has a 12 month low of C$91.94 and a 12 month high of C$162.12. The business has a fifty day simple moving average of C$145.42 and a 200-day simple moving average of C$134.05. The company has a market cap of C$136.03 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 3.03 and a beta of 1.30.

Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last posted its earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 14.76% and a net margin of 17.63%.The company had revenue of C$8.01 billion for the quarter. On average, equities research analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

About Canadian Imperial Bank of Commerce

(Get Free Report)

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.

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