National Bankshares Forecasts Strong Price Appreciation for Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target boosted by National Bankshares from C$121.00 to C$128.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bankshares’ price target would suggest a potential upside of 1.60% from the stock’s current price.

CM has been the subject of a number of other research reports. Desjardins lifted their price target on Canadian Imperial Bank of Commerce from C$106.00 to C$113.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Jefferies Financial Group lifted their target price on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the company a “hold” rating in a research report on Tuesday, November 25th. TD Securities increased their price target on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the stock a “buy” rating in a report on Friday. Barclays raised their price objective on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$119.00 and gave the company an “underweight” rating in a research report on Monday, November 24th. Finally, Scotiabank upped 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 research report on Friday. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$120.54.

Canadian Imperial Bank of Commerce Price Performance

TSE:CM traded down C$0.31 during trading hours on Friday, hitting C$125.99. The stock had a trading volume of 1,463,141 shares, compared to its average volume of 3,342,767. The company has a 50 day simple moving average of C$116.59 and a two-hundred day simple moving average of C$105.89. The firm has a market capitalization of C$117.12 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 3.03 and a beta of 1.45. Canadian Imperial Bank of Commerce has a one year low of C$76.17 and a one year high of C$126.98.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share for the quarter. The firm 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%. Equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current 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.