Scotiabank Increases Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$121.00

Key Points

• Scotiabank raised the price target for Canadian Imperial Bank of Commerce (CIBC) from C$116.00 to C$121.00, indicating a potential upside of 7.42% based on its prior close.
• Other analysts have also increased their price targets for CIBC, with TD Securities setting it at C$117.00 and Jefferies Financial Group at C$102.00.
• CIBC currently has a market capitalization of C$104.71 billion and operates primarily in retail and business banking, wealth management, and capital markets.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM had its target price lifted by equities researchers at Scotiabank from C$116.00 to C$121.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Scotiabank's price target suggests a potential upside of 7.42% from the company's previous close.

A number of other analysts have also recently commented on the stock. TD Securities upped their price target on shares of Canadian Imperial Bank of Commerce from C$110.00 to C$117.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Jefferies Financial Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research note on Wednesday, August 13th. National Bankshares set a C$110.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company a "sector perform" rating in a research note on Monday, September 22nd. Royal Bank Of Canada upped their price target on shares of Canadian Imperial Bank of Commerce from C$112.00 to C$113.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Finally, BMO Capital Markets upped their price target on shares of Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a research note on Friday, August 29th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of C$108.67.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock traded up C$0.50 on Friday, reaching C$112.64. 843,513 shares of the company traded hands, compared to its average volume of 3,512,457. Canadian Imperial Bank of Commerce has a 52 week low of C$76.17 and a 52 week high of C$114.68. The company has a 50 day moving average of C$106.81 and a 200 day moving average of C$96.47. The firm has a market capitalization of C$104.71 billion, a PE ratio of 13.62, a PEG ratio of 3.03 and a beta of 1.37.

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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