Canadian Imperial Bank of Commerce (CM) Price Target Raised to C$119.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective lifted by equities research analysts at Barclays from C$110.00 to C$119.00 in a note issued to investors on Friday, December 1st. Barclays’ price objective indicates a potential downside of 0.85% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets restated a “market perform” rating and set a C$118.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 25th. TD Securities upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a C$120.00 target price on the stock in a report on Wednesday, September 6th. Canaccord Genuity restated a “buy” rating and set a C$116.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 25th. Scotiabank lifted their target price on shares of Canadian Imperial Bank of Commerce from C$118.00 to C$120.00 and gave the company a “sector perform” rating in a report on Monday, August 21st. Finally, Citigroup lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and lifted their target price for the company from C$113.00 to C$120.00 in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of C$124.92.

Shares of Canadian Imperial Bank of Commerce (TSE:CM) opened at C$120.02 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of C$103.84 and a 12 month high of C$122.56.

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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.

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