Canadian Imperial Bank of Commerce (TSE:CM – Get 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
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
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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