Canadian Imperial Bank of Commerce (TSE:CM) Upgraded to “Outperform” at Royal Bank of Canada

Canadian Imperial Bank of Commerce (TSE:CMGet Free Report) (NYSE:CM) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report released on Wednesday,BayStreet.CA reports. The firm presently has a C$103.00 target price on the stock, up from their previous target price of C$97.00. Royal Bank of Canada’s target price would indicate a potential upside of 13.45% from the company’s previous close.

A number of other brokerages have also issued reports on CM. National Bankshares increased their target price on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. Scotiabank lifted their target price on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research report on Friday, December 6th. Cormark upped their price target on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research report on Friday, December 6th. BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday, November 18th. Finally, TD Securities increased their target price on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$95.08.

View Our Latest Research Report on Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce Price Performance

TSE CM traded up C$1.02 during trading hours on Wednesday, reaching C$90.79. The company’s stock had a trading volume of 1,238,092 shares, compared to its average volume of 3,602,706. Canadian Imperial Bank of Commerce has a 1-year low of C$59.53 and a 1-year high of C$95.50. The company’s 50-day moving average is C$90.89 and its two-hundred day moving average is C$80.09. The firm has a market capitalization of C$85.79 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 3.03 and a beta of 1.12.

Insider Buying and Selling

In related news, Senior Officer Susan Rimmer sold 1,000 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$93.14, for a total value of C$93,140.00. Also, Director Victor George Dodig sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of C$94.22, for a total value of C$14,132,865.00. In the last ninety days, insiders sold 177,012 shares of company stock valued at $16,687,218. 0.02% of the stock is currently owned by insiders.

Canadian Imperial Bank of Commerce Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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