Canadian Imperial Bank Of Commerce (TSE:CM) Receives a Downgrade
TD Securities cut shares of Canadian Imperial Bank Of Commerce (TSE:CM) stock to a “Hold” rating from their previous “Buy” rating. The news of this change was revealed to clients and investors in a very recent research note today. The firm after the upgrade has $105.00 TP on the shares.
From a total of 16 analysts covering Canadian Imperial Bank Of Commerce (TSE:CM) stock, 6 rate it a ”Buy”, 4 a “Sell”, and 6 a ”Hold”. This means that 38% of the ratings are positive. The highest target price is $86.07 while the lowest target price is $69.61. The mean of all analyst targets is $77.23 with a 5.92% above today’s ($97.81) stock price. Canadian Imperial Bank Of Commerce was the topic of 8 analyst reports since August 20, 2015 according to the firm StockzIntelligence Inc. Beaufort Securities maintained shares on October 15 with “Buy” rating.
The stock decreased 0.78% or $0.77 on December 4, striking $97.81. Approximately shares of stock traded hands. Canadian Imperial Bank of Commerce (TSE:CM) has risen 0.90% since May 4, 2015 and is uptrending. It has outperformed by 1.98% the S&P500.
Canadian Imperial Bank of Commerce is a Canada financial institution. The company has a market cap of $38.86 billion. CIBC serves its clients through three strategic business units: Retail and Business Banking, Wealth Management and Wholesale Banking. It has 11.01 P/E ratio. The Company’s three main operating groups are supported by six functional groups: Technology and Operations; Corporate Development; Finance; Treasury; Administration; and Risk Management, which form part of Corporate and Other.
According to Zacks Investment Research, “CIBC is a leading North American financial institution that offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, in the United States and around the world. It offers these services through two distinct business lines: CIBC Retail Markets and CIBC World Markets. The former comprises CIBC’s personal, business banking and wealth businesses. It provides a full range of financial products and services to personal, business and wealth management clients, as well as investment management services globally to retail and institutional clients. CIBC is headquartered in Toronto, Canada.” Get a free copy of the Zacks research report on Canadian Imperial Bank of Commerce (CM).