Analyst Ratings Coverage
Canadian Imperial Bank of Commerce (CIBC) recently witnessed several changes in analyst ratings, reflecting a diverse range of opinions on the stock’s future performance. The ratings, issued by prominent financial institutions, offer investors valuable insights into the market sentiment surrounding CIBC. Let’s delve into these analyst ratings changes and their potential implications for investors.
RBC Capital has downgraded its target for CIBC’s stock. The rating of “Sector Perform” suggests that RBC expects CIBC’s stock to perform in line with the overall sector. The target price of CAD 72 represents the level at which RBC believes the stock should be trading. This downgrade indicates a relatively neutral stance on the stock’s future prospects.
National Bank Financial maintains its negative outlook on CIBC’s stock, continuing to rate it as “Underperform.” with a target price of CAD 62.
Cormark Securities has maintained its target for CIBC’s stock at $64, with a Market Perform rating.
TD Securities has maintained its “Hold” rating on CIBC’s stock and raised its target price to CAD 59 from CAD 62.
STA Research reiterated their “Hold” rating on CIBC.
Barclays Capital has upgraded its target for CIBC’s stock, to CAD 58 from CAD 56, and maintained its Equal Weight rating.
Scotia Capital maintained its rating of “Sector Perform” on CIBC’s stock. Scotia Capital has a target price of CAD 66 on the stock.
CM Stock Forecast & Analysis
According to the forecasts of 21 analysts, the average target price for Canadian Imperial Bank of Commerce (CIBC) stock over the next 12 months is CAD 64.67. This indicates that analysts expect the stock to appreciate from its current price level. The average analyst rating for CIBC is “Hold,” suggesting a neutral stance on the stock’s performance.
Stock Target Advisor, an independent analysis platform, has conducted its own assessment of CIBC’s stock and categorized it as “Slightly Bearish.” This classification is based on the evaluation of 3 positive signals and 6 negative signals identified by the platform. Investors should take into consideration the factors considered in this analysis before making investment decisions.
As of the last closing, CIBC’s stock price stood at CAD 56.78. Over the past week, the stock price has increased by 0.37%, showing a slight upward movement. Looking at the monthly performance, the stock has gained 2.29%. However, over the last year, CIBC’s stock price has experienced a decline of 19.00%.