Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, Barclays Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective increased by stock analysts at Barclays from C$90.00 to C$94.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has an “underperform” rating on the stock. Barclays‘s target price would indicate a potential upside of 0.33% from the stock’s current price.

CM has been the subject of a number of other reports. UBS Group decreased their target price on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. National Bankshares set a C$95.00 target price on Canadian Imperial Bank of Commerce and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Scotiabank raised Canadian Imperial Bank of Commerce to a “strong-buy” rating in a research report on Thursday, May 15th. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and decreased their target price for the company from C$100.00 to C$89.00 in a research report on Monday, April 21st. Finally, Canaccord Genuity Group decreased their target price on Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$95.92.

Canadian Imperial Bank of Commerce Stock Performance

TSE:CM opened at C$93.69 on Monday. The stock has a market cap of C$87.65 billion, a P/E ratio of 12.37, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1 year low of C$64.63 and a 1 year high of C$96.45. The stock has a 50-day simple moving average of C$87.52 and a 200-day simple moving average of C$87.97.

Insider Activity

In other news, Senior Officer Shawn Beber sold 9,107 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of C$94.28, for a total value of C$858,567.89. Also, Senior Officer Sandy Sharman sold 1,027 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of C$81.27, for a total value of C$83,464.29. Insiders sold 85,642 shares of company stock valued at $7,995,304 in the last three months. 0.02% of the stock is currently owned by company insiders.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.