TD Securities has adjusted its price target for Canadian Imperial Bank of Commerce (TSE:CM) slightly downward, reducing it from C$175.00 to C$174.00. Despite this minor change, the firm maintains a "buy" rating on the stock. The new target suggests a potential upside of 5.26% from the company's previous close.
Other analysts have also weighed in on CIBC recently. National Bank Financial set a C$180.00 price target with a "sector perform" rating, while Royal Bank of Canada increased its target to C$176.00 with an "outperform" rating. Canaccord Genuity Group raised its target to C$169.00 but kept a "hold" rating. Desjardins and Barclays also provided updated targets, with consensus ratings leaning towards a "hold" and an average target price of C$167.71.
Shares of CIBC traded down C$0.71 on Thursday, closing at C$165.31. The stock's trading volume was 307,437 shares, below its average volume of 2,461,369. The company has a market capitalization of C$150.09 billion, a price-to-earnings ratio of 15.86, and a 52-week range of C$116.65 to C$172.87.
CIBC reported quarterly earnings of C$2.73 per share, with revenue of C$8.37 billion. Analysts expect the company to post C$6.41 in earnings per share for the current fiscal year. Insider transactions include a sale of 4,218 shares by Amy Florence South at an average price of C$161.41.