BMO Capital Markets Raises Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$150.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price increased by stock analysts at BMO Capital Markets from C$135.00 to C$150.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 9.05% from the stock’s current price.

Several other research analysts have also recently weighed in on CM. National Bank Financial upped their price target on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$131.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. TD Securities boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research report on Monday, February 9th. Jefferies Financial Group upped their target price on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research note on Wednesday, February 11th. Canaccord Genuity Group boosted their price target on Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the company a “hold” rating in a report on Friday. Finally, Raymond James Financial lifted their target price on Canadian Imperial Bank of Commerce from C$122.00 to C$135.00 and gave the company a “market perform” rating in a research report on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and an average price target of C$146.05.

Canadian Imperial Bank of Commerce Stock Performance

TSE:CM traded down C$4.29 on Friday, hitting C$137.55. 1,618,844 shares of the stock were exchanged, compared to its average volume of 2,555,776. The company’s 50-day moving average price is C$128.99 and its 200 day moving average price is C$119.21. The stock has a market capitalization of C$127.46 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 3.03 and a beta of 1.26. Canadian Imperial Bank of Commerce has a 52 week low of C$76.17 and a 52 week high of C$143.80.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, February 26th. The company reported C$2.76 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. The company had revenue of C$8.40 billion for the quarter. As a group, equities research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Frank Guse sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the completion of the sale, the insider owned 1,359 shares of the company’s stock, valued at C$172,810.44. This represents a 78.63% decrease in their ownership of the stock. 0.02% of the stock is currently owned by company insiders.

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.