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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price increased by investment analysts at Cormark from C$99.00 to C$104.00 in a research note issued to investors on Friday,BayStreet.CA reports. Cormark’s price target would indicate a potential upside of 11.09% from the stock’s current price.

Other analysts have also recently issued reports about the company. Scotiabank boosted their price target on Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research note on Friday. Canaccord Genuity Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$92.00 in a research note on Tuesday, November 19th. BMO Capital Markets lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. Royal Bank of Canada boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. Finally, Jefferies Financial Group cut their price target on Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$90.00.

Canadian Imperial Bank of Commerce Stock Performance

CM traded up C$0.08 on Friday, reaching C$93.62. The company had a trading volume of 2,006,292 shares, compared to its average volume of 3,703,883. The company’s fifty day moving average is C$86.88 and its 200 day moving average is C$76.03. The stock has a market cap of C$88.47 billion, a P/E ratio of 13.55, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a fifty-two week low of C$57.52 and a fifty-two week high of C$94.81.

Insider Activity

In related news, Senior Officer Christina Charlotte Kramer sold 37,022 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$83.40, for a total value of C$3,087,634.80. Also, Director Harry Kenneth Culham sold 800 shares of Canadian Imperial Bank of Commerce stock in a transaction on Monday, September 30th. The shares were sold at an average price of C$83.20, for a total transaction of C$66,560.00. Over the last three months, insiders have sold 197,527 shares of company stock valued at $16,381,457. 0.02% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Company Profile

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.