CM Stock (CM:TSX) Analysis:
Last Closing Price: $58.82
Consensus Analyst Rating: Buy
12-Month Price Target: $69.51
Market CAP: $53.73 Billion
RBC Royalbank issued a research report on Monday, December 5th, downgrading the analyst’s rating on CIBC to a Sector Perform from an Outperform rating.
The downgrade comes on the heels of the earnings miss by CIBC late last week. CIBC analysts also downgraded coverage of their own CM stock to Sector Perform from Outperform.
CM Stock Forecast & Price:
Canadian Imperial Bank of Commerce stock estimates from 5 analysts were used to determine the average analyst stock price target over the next 12 months, which is USD 75.40.
The typical analyst recommendation for the Canadian Imperial Bank Of Commerce is Hold. Based on 6 good signs and 7 negative indications, the Stock Target Advisor’s personal analysis of Canadian Imperial Bank of Commerce stock is Neutral.
The stock price of the Canadian Imperial Bank of Commerce was 44.13 USD at the most recent close. The stock price of Canadian Imperial Bank of Commerce changed by -9.40% over the previous week, -4.73% over the previous month, and -19.15% over the previous year.
The consensus Crowd Rating for the CM stock is currently set at a slight Buy rating.
About Canadian Imperial Bank Of Commerce (CM:TSX):
Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally.
The company operates through four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S. Commercial Banking and Wealth Management; and Capital Markets.
The company offers chequing, savings, and business accounts; mortgages; loans, lines of credit, student lines of credit, and business and agriculture loans; investment and insurance services; and credit cards, as well as overdraft protection services.
It also provides day-to-day banking, borrowing and credit, specialty, investing and wealth, and international services; correspondent banking and online foreign exchange services; and cash management services. Canadian Imperial Bank of Commerce was founded in 1867 and is headquartered in Toronto, Canada.