Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$160.00

Key Points

• Desjardins raised its price target on Canadian Imperial Bank of Commerce to C$160.00 (from C$152.00) and kept a buy rating, implying about a 6.6% upside from the prior close.
• Several other analysts also lifted targets, leaving a consensus rating of Moderate Buy with an average target of C$149.68 (seven Buys, four Holds).
• Shares traded at C$150.08 (+0.3%); the bank has a market cap of C$138.13B, a P/E of 15.65, and reported quarterly EPS of C$2.76 on C$8.40B of revenue.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM had its price target raised by research analysts at Desjardins from C$152.00 to C$160.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' price target points to a potential upside of 6.61% from the stock's previous close.

A number of other equities analysts have also commented on CM. TD Securities increased their price target on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Scotiabank increased their price target on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$159.00 and gave the stock a "sector outperform" rating in a report on Monday. BMO Capital Markets increased their price target on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the stock an "outperform" rating in a report on Friday, February 27th. National Bank Financial increased their price target on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$150.00 and gave the stock a "sector perform" rating in a report on Friday, February 27th. Finally, Barclays increased their price target on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a report on Monday, March 2nd. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$149.68.

Canadian Imperial Bank of Commerce Trading Up 0.3%

Shares of TSE:CM traded up C$0.41 during trading on Tuesday, reaching C$150.08. The company had a trading volume of 631,563 shares, compared to its average volume of 2,674,972. The company has a fifty day moving average of C$138.68 and a two-hundred day moving average of C$129.11. The stock has a market capitalization of C$138.13 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 3.03 and a beta of 1.21. Canadian Imperial Bank of Commerce has a 12 month low of C$87.62 and a 12 month high of C$153.71.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last issued its quarterly earnings results on Thursday, February 26th. The company reported C$2.76 EPS for the quarter. The firm had revenue of C$8.40 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. As a group, equities research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

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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