Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Target Lowered at TD

Key Points

• TD lowered its price target on CIBC from C$175 to C$174 but maintained a Buy rating; the revised target implies 5.26% upside from the prior close.
• Analyst sentiment overall is more cautious: five analysts rate the stock Buy and seven Hold, giving it a consensus Hold rating and average target of C$167.71.
• CIBC reported quarterly EPS of C$2.73 on revenue of C$8.37 billion; its shares fell 0.4% to C$165.31 on Thursday.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM had its price objective dropped by equities researchers at TD from C$175.00 to C$174.00 in a research report issued on Thursday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. TD's price target would suggest a potential upside of 5.26% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. National Bank Financial set a C$180.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock a "sector perform" rating in a research note on Monday, August 24th. Royal Bank Of Canada boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$167.00 to C$176.00 and gave the stock an "outperform" rating in a research report on Friday, August 28th. Canaccord Genuity Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the stock a "hold" rating in a research report on Friday, August 28th. Desjardins set a C$170.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock a "hold" rating in a report on Wednesday. Finally, Barclays lifted their price target on shares of Canadian Imperial Bank of Commerce from C$144.00 to C$170.00 in a research note on Friday, August 21st. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of C$167.71.

Canadian Imperial Bank of Commerce Trading Down 0.4%

Shares of Canadian Imperial Bank of Commerce stock traded down C$0.71 during trading on Thursday, reaching C$165.31. The stock had a trading volume of 307,437 shares, compared to its average volume of 2,461,369. The company has a market capitalization of C$150.09 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 3.03 and a beta of 1.23. The stock has a fifty day moving average price of C$160.17 and a two-hundred day moving average price of C$152.38. Canadian Imperial Bank of Commerce has a 52 week low of C$116.65 and a 52 week high of C$172.87.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last posted its quarterly earnings data on Thursday, August 27th. The company reported C$2.73 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%. The business had revenue of C$8.37 billion during the quarter. On average, equities analysts forecast that Canadian Imperial Bank of Commerce will post 6.41 EPS for the current fiscal year.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, insider Amy Florence South sold 4,218 shares of the company's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of C$161.41, for a total transaction of C$680,827.38. Company insiders own 0.02% of the company's stock.

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, 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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