Jefferies Financial Group Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target hoisted by analysts at Jefferies Financial Group from C$136.00 to C$143.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Jefferies Financial Group’s price objective suggests a potential downside of 9.21% from the company’s previous close.

A number of other research firms have also recently commented on CM. TD upped their price target on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$166.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Canaccord Genuity Group lifted their target price on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the stock a “hold” rating in a research note on Friday, February 27th. BMO Capital Markets lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. National Bank Financial lifted their target price on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a report on Friday, May 15th. Finally, Royal Bank Of Canada cut their price target on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$152.86.

Canadian Imperial Bank of Commerce Stock Up 2.0%

Shares of TSE:CM traded up C$3.08 on Wednesday, hitting C$157.50. The company had a trading volume of 746,436 shares, compared to its average volume of 2,580,840. The firm’s 50-day simple moving average is C$141.95 and its two-hundred day simple moving average is C$132.05. Canadian Imperial Bank of Commerce has a 1 year low of C$91.92 and a 1 year high of C$157.66. The firm has a market capitalization of C$144.96 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 3.03 and a beta of 1.30.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, February 26th. The company reported C$2.76 earnings per share (EPS) for the quarter. The company had revenue of C$8.40 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. Equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS 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.