Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, TD Securities Analyst Says

Key Points

• TD Securities raised its target price for Canadian Imperial Bank of Commerce from C$124 to C$134 and kept a "buy" rating, implying roughly a 6.36% upside from the prior close.
• Analyst coverage is mixed—four Buys, five Holds and one Sell—leaving a MarketBeat consensus rating of "Hold" with an average price target of C$120.54, even as several firms recently lifted their targets.
• Shares traded at C$125.99 (down 0.2%) with a market cap of C$117.12 billion and a P/E of 15.23; the bank reported recent quarter EPS of C$2.21 on C$7.58 billion of revenue.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM had its target price boosted by investment analysts at TD Securities from C$124.00 to C$134.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD Securities' price objective would suggest a potential upside of 6.36% from the stock's previous close.

Other analysts have also recently issued research reports about the company. Desjardins lifted their price target on Canadian Imperial Bank of Commerce from C$106.00 to C$113.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Scotiabank raised their target price on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$133.00 and gave the stock an "outperform" rating in a report on Friday. Barclays increased their price target on Canadian Imperial Bank of Commerce from C$106.00 to C$119.00 and gave the stock an "underweight" rating in a research report on Monday, November 24th. BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a research note on Friday, August 29th. Finally, National Bankshares set a C$110.00 target price on Canadian Imperial Bank of Commerce and gave the stock a "sector perform" rating in a research note on Monday, September 22nd. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of "Hold" and an average price target of C$120.54.

Canadian Imperial Bank of Commerce Stock Down 0.2%

Shares of CM traded down C$0.31 during mid-day trading on Friday, hitting C$125.99. 1,463,141 shares of the company traded hands, compared to its average volume of 3,342,767. The business has a 50 day moving average of C$116.59 and a 200 day moving average of C$105.89. The company has a market capitalization of C$117.12 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 3.03 and a beta of 1.45. Canadian Imperial Bank of Commerce has a 1-year low of C$76.17 and a 1-year high of C$126.98.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last released its earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share for the quarter. The company had revenue of C$7.58 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

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.

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