Barclays Increases Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$170.00

Key Points

• Barclays raised CIBC’s price target from C$144 to C$170, implying 5.52% upside from the reported trading price.
• Analyst sentiment remains mixed: five analysts rate the stock a Buy and seven rate it Hold, producing an overall “Hold” rating and an average price target of C$165.46.
• CIBC shares traded at C$161.11, while the bank reported C$2.54 in quarterly EPS, C$8.01 billion in revenue, a 15.24% return on equity, and an 18.44% net margin.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM had its price target hoisted by analysts at Barclays from C$144.00 to C$170.00 in a research note issued to investors on Friday,BayStreet.CA reports. Barclays's price objective points to a potential upside of 5.52% from the company's current price.

A number of other research analysts have also recently issued reports on the company. Jefferies Financial Group lifted their price objective on Canadian Imperial Bank of Commerce from C$143.00 to C$153.00 and gave the company a "hold" rating in a report on Thursday, August 13th. Canaccord Genuity Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the stock a "hold" rating in a research report on Tuesday, July 7th. Desjardins downgraded shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and lifted their price target for the company from C$160.00 to C$173.00 in a report on Wednesday, August 5th. Raymond James Financial boosted their price target on shares of Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the company a "market perform" rating in a research report on Wednesday, August 12th. Finally, National Bank Financial upped their price objective on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$180.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 13th. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of "Hold" and an average price target of C$165.46.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM traded up C$1.34 during mid-day trading on Friday, reaching C$161.11. The company had a trading volume of 516,201 shares, compared to its average volume of 2,511,593. The company has a market capitalization of C$147.06 billion, a P/E ratio of 15.98, a P/E/G ratio of 3.03 and a beta of 1.40. Canadian Imperial Bank of Commerce has a twelve month low of C$100.43 and a twelve month high of C$172.87. The company's 50-day moving average is C$164.67 and its 200-day moving average is C$150.02.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last announced its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The business had revenue of C$8.01 billion for the quarter. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Insider Activity

In other news, insider Amy Florence South sold 1,200 shares of the firm's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of C$160.92, for a total value of C$193,104.00. Also, insider Stephen Alan Scholtz sold 6,000 shares of Canadian Imperial Bank of Commerce stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total value of C$976,200.00. Insiders have sold a total of 17,776 shares of company stock valued at $2,817,744 in the last 90 days. 0.02% of the stock is owned by company insiders.

About Canadian Imperial Bank of Commerce

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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