Desjardins Increases Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$135.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target raised by equities research analysts at Desjardins from C$132.00 to C$135.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target points to a potential upside of 5.86% from the company’s current price.

A number of other brokerages also recently weighed in on CM. Barclays raised their target price on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research note on Monday, December 8th. Royal Bank Of Canada upped their price target on Canadian Imperial Bank of Commerce from C$114.00 to C$131.00 in a research note on Friday, December 5th. Raymond James Financial lifted their price objective on Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the company a “market perform” rating in a research note on Friday, December 5th. TD Securities boosted their target price on 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, December 5th. Finally, Jefferies Financial Group increased their target price on Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the stock a “hold” rating in a research note on Tuesday, November 25th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$125.36.

Canadian Imperial Bank of Commerce Price Performance

CM stock traded up C$1.30 during midday trading on Thursday, hitting C$127.53. The stock had a trading volume of 999,935 shares, compared to its average volume of 3,321,470. The business has a 50-day moving average of C$119.16 and a two-hundred day moving average of C$108.08. The firm has a market cap of C$118.55 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 3.03 and a beta of 1.45. Canadian Imperial Bank of Commerce has a 52-week low of C$76.17 and a 52-week high of C$128.81.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, December 4th. The company reported C$2.21 EPS 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%. 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.