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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target lifted by research analysts at UBS Group from C$94.00 to C$102.00 in a research note issued to investors on Monday,BayStreet.CA reports. UBS Group’s target price indicates a potential upside of 8.37% from the stock’s current price.

Several other research firms also recently weighed in on CM. TD Securities lifted their target price on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and boosted their price target for the stock from C$74.00 to C$90.00 in a research note on Friday, August 30th. Desjardins boosted their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. National Bankshares boosted their price target on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada boosted their price target on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$92.67.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at C$94.12 on Monday. Canadian Imperial Bank of Commerce has a fifty-two week low of C$59.53 and a fifty-two week high of C$95.50. The firm has a 50 day moving average price of C$88.67 and a 200 day moving average price of C$77.54. The company has a market capitalization of C$88.94 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Senior Officer Robert Sedran sold 20,652 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of C$94.97, for a total transaction of C$1,961,227.51. Also, Senior Officer Frank Guse sold 5,360 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$93.28, for a total transaction of C$499,985.62. Following the transaction, the insider now owns 440 shares in the company, valued at approximately C$41,043.60. This trade represents a 92.41 % decrease in their ownership of the stock. Over the last three months, insiders have sold 226,812 shares of company stock worth $20,831,388. 0.02% of the stock is owned by company insiders.

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.