National Bankshares Raises Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$78.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective hoisted by equities research analysts at National Bankshares from C$76.00 to C$78.00 in a report issued on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ price objective would indicate a potential upside of 17.47% from the stock’s current price.

CM has been the topic of several other reports. Cormark lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$68.00 in a research report on Friday, March 1st. Canaccord Genuity Group lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$67.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. Scotiabank lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$73.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. TD Securities upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$65.00 to C$70.00 in a research report on Friday, March 1st. Finally, Royal Bank of Canada lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$68.00 to C$69.00 and gave the stock a “sector perform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$69.09.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE CM traded down C$2.79 during trading on Friday, hitting C$66.40. The company had a trading volume of 2,019,143 shares, compared to its average volume of 3,617,018. The company has a market cap of C$62.23 billion, a P/E ratio of 10.18, a PEG ratio of 3.01 and a beta of 1.11. Canadian Imperial Bank of Commerce has a 52 week low of C$47.44 and a 52 week high of C$69.54. The business’s 50-day moving average is C$66.57 and its 200 day moving average is C$63.10.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, February 29th. The company reported C$1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.69 by C$0.12. The company had revenue of C$6.22 billion for the quarter, compared to analysts’ expectations of C$6.07 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.14% and a net margin of 29.50%. On average, research analysts expect that Canadian Imperial Bank of Commerce will post 6.7699387 EPS for the current year.

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.