BMO Capital Markets Boosts Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$99.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target increased by investment analysts at BMO Capital Markets from C$81.00 to C$99.00 in a research note issued on Monday,BayStreet.CA reports. BMO Capital Markets’ target price suggests a potential upside of 10.18% from the company’s current price.

Several other analysts also recently commented on CM. Scotiabank raised their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Royal Bank of Canada raised their price target on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. National Bankshares upped their price objective on Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Cormark raised Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and lifted their target price for the company from C$75.00 to C$83.00 in a research note on Friday, August 30th. Finally, TD Securities upped their price target on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$82.38.

Canadian Imperial Bank of Commerce Stock Up 0.1 %

Shares of CM opened at C$89.85 on Monday. The business has a 50-day simple moving average of C$85.04 and a two-hundred day simple moving average of C$74.10. Canadian Imperial Bank of Commerce has a 52 week low of C$51.60 and a 52 week high of C$90.57. The stock has a market cap of C$84.91 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. The company had revenue of C$6.60 billion during the quarter, compared to the consensus estimate of C$6.31 billion. On average, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$83.40, for a total value of C$3,087,634.80. Also, Director Harry Kenneth Culham sold 800 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of C$83.20, for a total value of C$66,560.00. Insiders have sold a total of 203,057 shares of company stock worth $16,823,249 in the last three months. Insiders own 0.02% of the company’s stock.

About Canadian Imperial Bank of Commerce

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.