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Analysts at Royal Bank of Canada have set a price target of C$69.00 on Canadian Imperial Bank of Commerce (TSE:CM).

Analysts at Royal Bank of Canada have set a price target of C$69.00 on Canadian Imperial Bank of Commerce (TSE:CM).

According to BayStreet.CA, investment analysts at the Royal Bank of Canada set a price objective of C$69.00 for Canadian Imperial Bank of Commerce (TSE: CM) (NYSE: CM) in a research note that was distributed to clients and investors on Thursday. The note was regarding the Canadian Imperial Bank of Commerce (TSE: CM) (NYSE: CM). At this time, the company believes that the stock will “sector perform,” and as a result, it has given the stock this rating. In addition, the price target for the Royal Bank of Canada indicates that the stock can achieve a gain of 23.90% from its most recent closing price if it successfully reaches the target price.
Other equity research analysts have recently concentrated some of their attention on CM. In a report made available to the public on Friday, December 9th, the CSFB announced that they had changed their recommendation on the Canadian Imperial Bank of Commerce from “outperform” to “neutral,” reflecting the findings of a new study. They lowered their price target for the stock from 60.00 Canadian dollars to 63.00 Canadian dollars to reflect the current market conditions. The credit rating of the Canadian Imperial Bank of Commerce was downgraded to “neutral” by the Credit Suisse Group, and a price objective of C$66.00 was set for the company. According to a study that was released on December 9th for public consumption. Keefe, Bruyette & Woods stated in a report disseminated on Friday, December 2nd, that their price target for the Canadian Imperial Bank of Commerce had decreased from C$69.00 to C$62.00. This information was included in the report. In a research report made public on Friday, December 2nd, Scotiabank lowered its price objective on Canadian Imperial Bank of Commerce shares from C$75.00 to C$68.00 and downgraded the stock from “outperform” to “sector perform.” Fundamental Research reaffirmed their “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report published on Tuesday, December 13th. They also positioned these shares with a price objective of C$73.43. Only two of the nine stock research analysts polled gave the company a “buy” rating, while seven recommended that investors “hold” their current positions in the company’s stock. The average analyst recommendation for this company is “Hold,” The current consensus price target for the stock is 66.16 Canadian dollars. These numbers were arrived at by analyzing the data found on Bloomberg.com.
The price of a share of CM fell by $0.29 during trading hours on Thursday, reaching C$55.69; the total number of shares traded was 763,182, which was lower than the daily average of 2,497,829 shares traded. The share price of Canadian Imperial Bank of Commerce has ranged from C$53.58 (which represents a 12-month low) to C$83.75 (which represents a 12-month high). The company currently has a market value of C$50.46 billion and a P/E ratio of 8.34. The moving average for the stock over the past 50 days is currently sitting at C$59.76, while the moving average for the past 200 days is currently sitting at C$61.69.
The Canadian Imperial Bank of Commerce is a diversified financial organization that provides a comprehensive range of financial goods and services to individuals, corporations, governments, and institutions in Canada, the United States, and other countries. These customers can be found in several different countries around the world. These customers hail from a diverse selection of socioeconomic backgrounds. The company’s four strategic business units are wealth management, personal and business banking in Canada, and commercial banking in the United States. The company is organized into these four distinct strategic business units to better serve its customers.

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