Canadian Imperial Bank of Commerce (TSE:CM) Rating Increased to Outperform at Royal Bank of Canada

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) was upgraded by equities research analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Wednesday,BayStreet.CA reports. The firm presently has a C$103.00 price objective on the stock, up from their prior price objective of C$97.00. Royal Bank of Canada’s target price would suggest a potential upside of 12.51% from the company’s previous close.

Other equities analysts have also issued reports about the company. BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. TD Securities lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. Cormark boosted their target price on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research report on Friday, December 6th. Scotiabank raised their price target on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research report on Friday, December 6th. Finally, UBS Group increased their price objective on Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average target price of C$95.08.

Canadian Imperial Bank of Commerce Stock Up 0.8 %

Canadian Imperial Bank of Commerce stock opened at C$91.55 on Wednesday. The company has a market capitalization of C$86.51 billion, a PE ratio of 13.25, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12-month low of C$59.53 and a 12-month high of C$95.50. The firm’s fifty day moving average is C$91.02 and its 200 day moving average is C$80.44.

Insider Transactions 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 that occurred on Thursday, December 12th. The shares were sold at an average price of C$94.97, for a total value of C$1,961,227.51. Also, Senior Officer Susan Rimmer sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of C$93.14, for a total transaction of C$93,140.00. Insiders have sold 177,012 shares of company stock worth $16,687,218 in the last ninety days. Company 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.