Canaccord Genuity Group Reiterates "C$96.00" Price Target for Canadian Imperial Bank of Commerce (TSE:CM)

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM has been assigned a C$96.00 target price by Canaccord Genuity Group in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 0.75% from the stock's current price.

A number of other research firms have also recently commented on CM. Barclays lifted their price target on shares of Canadian Imperial Bank of Commerce from C$90.00 to C$94.00 and gave the stock an "underperform" rating in a research note on Monday, June 9th. National Bank Financial downgraded Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Thursday, May 29th. National Bankshares set a C$95.00 price objective on Canadian Imperial Bank of Commerce and gave the company an "outperform" rating in a report on Thursday, May 22nd. Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and reduced their target price for the stock from C$100.00 to C$89.00 in a research note on Monday, April 21st. Finally, TD Securities decreased their target price on 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of C$96.23.

Canadian Imperial Bank of Commerce Stock Performance

CM stock traded up C$0.05 during trading on Tuesday, hitting C$95.29. 4,115,666 shares of the company's stock traded hands, compared to its average volume of 3,829,648. Canadian Imperial Bank of Commerce has a 52 week low of C$64.65 and a 52 week high of C$97.04. The stock has a market capitalization of C$89.15 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 3.03 and a beta of 1.12. The business has a fifty day simple moving average of C$91.00 and a 200 day simple moving average of C$88.28.

Insiders Place Their Bets

In other Canadian Imperial Bank of Commerce news, Senior Officer Christina Charlotte Kramer sold 43,490 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of C$93.07, for a total value of C$4,047,614.30. Also, Senior Officer Shawn Beber sold 9,065 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of C$92.49, for a total transaction of C$838,382.87. Insiders have sold a total of 105,837 shares of company stock worth $9,903,590 in the last three months. Corporate insiders own 0.02% of the company's stock.

About Canadian Imperial Bank of Commerce

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.