Canadian Imperial Bank of Commerce (TSE:CM) Cut to Hold at Jefferies Financial Group

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM was downgraded by equities research analysts at Jefferies Financial Group from a "buy" rating to a "hold" rating in a research note issued on Monday,BayStreet.CA reports. They currently have a C$89.00 price target on the stock, down from their previous price target of C$100.00. Jefferies Financial Group's target price would indicate a potential upside of 5.06% from the company's previous close.

Other analysts have also issued reports about the stock. TD Securities cut 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 report on Friday, February 28th. UBS Group decreased their price target on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. Scotiabank cut their target price on Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. National Bankshares decreased their price target on shares of Canadian Imperial Bank of Commerce from C$101.00 to C$95.00 and set an "outperform" rating on the stock in a research note on Monday, April 7th. Finally, 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 report on Monday, March 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$94.50.

Canadian Imperial Bank of Commerce Price Performance

TSE:CM traded up C$1.05 during mid-day trading on Monday, hitting C$84.71. 4,587,250 shares of the company's stock were exchanged, compared to its average volume of 4,249,518. Canadian Imperial Bank of Commerce has a one year low of C$64.02 and a one year high of C$95.50. The company has a market cap of C$79.25 billion, a PE ratio of 11.19, a P/E/G ratio of 3.03 and a beta of 1.12. The business has a fifty day moving average price of C$82.31 and a 200 day moving average price of C$87.00.

Insider Activity

In other Canadian Imperial Bank of Commerce news, Senior Officer Sandy Sharman sold 1,027 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of C$81.27, for a total value of C$83,464.29. Insiders own 0.02% of the company's stock.

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.