Canadian Imperial Bank of Commerce (TSE:CM) Lifted to Outperform at Barclays

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) was upgraded by investment analysts at Barclays from an “underweight” rating to an “outperform” rating in a research report issued on Tuesday, December 19th.

Several other brokerages have also weighed in on CM. Canaccord Genuity reaffirmed a “buy” rating and set a C$116.00 price objective on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 25th. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$118.00 target price on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 25th. TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a C$120.00 price objective for the company in a report on Wednesday, September 6th. Scotiabank lifted their price objective on Canadian Imperial Bank of Commerce from C$128.00 to C$135.00 in a report on Friday, December 1st. Finally, Royal Bank of Canada lifted their price objective on Canadian Imperial Bank of Commerce from C$119.00 to C$128.00 and gave the stock a “sector perform” rating in a research report on Friday, December 1st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$125.50.

Shares of Canadian Imperial Bank of Commerce (CM) traded down C$0.11 on Tuesday, reaching C$122.99. 851,099 shares of the company were exchanged, compared to its average volume of 1,362,675. Canadian Imperial Bank of Commerce has a 12-month low of C$103.84 and a 12-month high of C$124.37. The company has a market cap of $54,300.00, a price-to-earnings ratio of 10.91 and a beta of 0.77.

In other news, Director Laura Lee Dottori-Attanasio sold 11,928 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of C$119.55, for a total transaction of C$1,425,992.40.

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About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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