Canadian Imperial Bank of Commerce (TSE:CM) PT Lowered to C$107.00 at Eight Capital

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target cut by analysts at Eight Capital from C$119.00 to C$107.00 in a research note issued on Wednesday, BayStreet.CA reports. Eight Capital’s price objective points to a potential upside of 8.29% from the company’s previous close.

Several other brokerages have also issued reports on CM. BMO Capital Markets cut their price target on Canadian Imperial Bank of Commerce from C$128.00 to C$120.00 and set a “market perform” rating on the stock in a research note on Thursday, May 23rd. CSFB set a C$116.00 price target on Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a research note on Thursday, May 16th. Barclays lowered Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating and cut their price target for the company from C$120.00 to C$113.00 in a research note on Tuesday, June 11th. Citigroup cut their target price on Canadian Imperial Bank of Commerce from C$130.00 to C$120.00 in a research note on Thursday, June 27th. Finally, Desjardins lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and cut their target price for the company from C$125.00 to C$118.00 in a research note on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and an average target price of C$116.67.

Canadian Imperial Bank of Commerce stock traded down C$1.72 on Wednesday, reaching C$98.81. The company’s stock had a trading volume of 808,020 shares, compared to its average volume of 1,575,333. Canadian Imperial Bank of Commerce has a twelve month low of C$98.13 and a twelve month high of C$125.21. The stock has a market capitalization of $44.71 billion and a P/E ratio of 8.70. The company’s fifty day moving average is C$102.75.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported C$2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.99 by C($0.02). The firm had revenue of C$4.54 billion during the quarter, compared to analyst estimates of C$4.54 billion. As a group, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 12.6099999 earnings per share for the current year.

In other Canadian Imperial Bank of Commerce news, Director Nicholas D’orr Le Pan sold 500 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of C$103.47, for a total value of C$51,735.00. Following the completion of the sale, the director now directly owns 3,019 shares in the company, valued at C$312,375.93.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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