Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$106.00 at Desjardins

Key Points

• Desjardins has raised the price target for the Canadian Imperial Bank of Commerce from C$100.00 to C$106.00, indicating a potential upside of 4.87% from the current price and maintaining a "buy" rating.
• Other analysts have varied ratings for the stock, ranging from a "strong-buy" from Scotiabank to an "underperform" from Barclays, resulting in an average rating of "Moderate Buy" with a target price of C$99.00.
• The stock trades at C$101.08 with a market cap of C$94.57 billion, while insider sales have amounted to approximately C$9.9 million in the last 90 days.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM had its price objective increased by stock analysts at Desjardins from C$100.00 to C$106.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Desjardins' price target suggests a potential upside of 4.87% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Scotiabank raised shares of Canadian Imperial Bank of Commerce to a "strong-buy" rating in a research note on Thursday, May 15th. Canaccord Genuity Group set a C$96.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock a "hold" rating in a research note on Tuesday, June 24th. Barclays upped their target price 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 shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Thursday, May 29th. Finally, Jefferies Financial Group downgraded shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and cut their target price for the stock from C$100.00 to C$89.00 in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$99.00.

Canadian Imperial Bank of Commerce Stock Up 0.3%

TSE:CM traded up C$0.35 on Wednesday, hitting C$101.08. The stock had a trading volume of 820,866 shares, compared to its average volume of 3,645,330. The stock has a market cap of C$94.57 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 3.03 and a beta of 1.12. The company has a fifty day moving average price of C$97.61 and a two-hundred day moving average price of C$90.04. Canadian Imperial Bank of Commerce has a 1-year low of C$70.09 and a 1-year high of C$102.02.

Insider Activity at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer John Hountalas sold 32,018 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of C$93.87, for a total transaction of C$3,005,657.73. Also, Senior Officer Shawn Beber sold 9,107 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of C$94.28, for a total transaction of C$858,567.89. Over the last 90 days, insiders have sold 105,837 shares of company stock worth $9,903,590. 0.02% of the stock is owned by company insiders.

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.

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