Canadian Imperial Bank of Commerce (TSE:CM) PT Lowered to C$115.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target cut by analysts at TD Securities from C$120.00 to C$115.00 in a research report issued on Friday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ price target suggests a potential upside of 4.67% from the company’s current price.

CM has been the topic of several other reports. Eight Capital lowered their target price on Canadian Imperial Bank of Commerce from C$119.00 to C$107.00 in a research note on Wednesday, August 14th. BMO Capital Markets cut their price target on Canadian Imperial Bank of Commerce from C$120.00 to C$117.00 in a research note on Friday, August 23rd. Canaccord Genuity set a C$112.50 price objective on Canadian Imperial Bank of Commerce in a report on Monday, November 25th. Royal Bank of Canada decreased their price objective on Canadian Imperial Bank of Commerce from C$128.00 to C$124.00 and set a “sector perform” rating for the company in a report on Friday, August 23rd. Finally, CSFB lowered their price objective on Canadian Imperial Bank of Commerce from C$106.00 to C$105.00 in a research note on Friday, September 6th. Seven analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of C$113.25.

Shares of TSE CM opened at C$109.87 on Friday. The stock has a fifty day simple moving average of C$113.68 and a two-hundred day simple moving average of C$106.77. Canadian Imperial Bank of Commerce has a 1-year low of C$97.55 and a 1-year high of C$115.96. The firm has a market cap of $48.94 billion and a price-to-earnings ratio of 9.63.

In related news, Director Katharine Berghuis Stevenson purchased 4,000 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Tuesday, September 17th. The stock was bought at an average cost of C$109.52 per share, for a total transaction of C$438,080.00. Following the completion of the transaction, the director now owns 20,352 shares in the company, valued at C$2,228,951.04.

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 four strategic business units: Canadian Personal and Small 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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