Barclays Lowers Canadian Imperial Bank of Commerce (TSE:CM) to Equal Weight

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) was downgraded by analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report issued on Tuesday, BayStreet.CA reports. They currently have a C$113.00 price objective on the stock, down from their prior price objective of C$120.00. Barclays‘s price objective points to a potential upside of 10.15% from the stock’s previous close.

CM has been the topic of a number of other reports. Desjardins downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$125.00 to C$118.00 in a research note on Thursday, May 23rd. National Bank Financial dropped their target price on shares of Canadian Imperial Bank of Commerce from C$122.00 to C$120.00 and set a “sector perform” rating on the stock in a research note on Friday, March 1st. TD Securities dropped their target price on shares of Canadian Imperial Bank of Commerce from C$140.00 to C$135.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. CSFB set a C$116.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Finally, Canaccord Genuity upped their target price on shares of Canadian Imperial Bank of Commerce from C$115.00 to C$121.00 in a research note on Wednesday, May 15th. Six research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average price target of C$119.25.

Shares of CM stock opened at C$102.59 on Tuesday. The stock has a market capitalization of $46.06 billion and a price-to-earnings ratio of 9.03. Canadian Imperial Bank of Commerce has a one year low of C$99.51 and a one year high of C$125.21.

Canadian Imperial Bank of Commerce Company Profile

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 Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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