Today Canadian Imperial Bank of Commerce Stock Reaches 52-Week High

 Today Canadian Imperial Bank of Commerce Stock Reaches 52 Week High

The stock of Canadian Imperial Bank of Commerce (TSE:CM) hit a new 52-week high and has $110.27 target or 5.00% above today’s $105.02 share price. The 6 months bullish chart indicates low risk for the $41.75B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $110.27 price target is reached, the company will be worth $2.09 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 115,827 shares traded hands. Canadian Imperial Bank of Commerce (TSE:CM) has risen 6.31% since April 18, 2016 and is uptrending. It has outperformed by 1.75% the S&P500.

Canadian Imperial Bank of Commerce (TSE:CM) Ratings Coverage

Out of 10 analysts covering Canadian Imperial Bank Of Commerce (TSE:CM), 4 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 40% are positive. $123 is the highest target while $74 is the lowest. The $103.64 average target is -1.31% below today’s ($105.02) stock price. Canadian Imperial Bank Of Commerce has been the topic of 23 analyst reports since August 20, 2015 according to StockzIntelligence Inc. The rating was maintained by Scotia Capital with “Sector Perform” on Friday, October 21. The firm has “Neutral” rating given on Friday, August 28 by Credit Suisse. The stock of Canadian Imperial Bank of Commerce (TSE:CM) earned “Buy” rating by Dundee Securities on Wednesday, September 21. The stock has “Hold” rating given by TD Securities on Friday, December 4. Beaufort Securities maintained the stock with “Buy” rating in Thursday, October 15 report.

More recent Canadian Imperial Bank of Commerce (TSE:CM) news were published by: Wsj.com which released: “Canadian Imperial Bank of Commerce to Repay Clients for Overcharging” on October 28, 2016. Also Fool.ca published the news titled: “Why Canadian Imperial Bank of Commerce Isn’t Your 1-Stop Bank” on November 07, 2016. Reuters.com‘s news article titled: “Fitch Affirms Canadian Imperial Bank of Commerce at ‘AA-/F1+’; Outlook Sta…” with publication date: October 28, 2016 was also an interesting one.

Canadian Imperial Bank of Commerce is a global financial institution. The company has a market cap of $41.75 billion. The Firm provides a range of financial services and products to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. It has a 10.18 P/E ratio. The Firm operates through three divisions: Retail and Business Banking, Wealth Management and Capital Markets.

CM.TO Company Profile

Canadian Imperial Bank of Commerce (CIBC), incorporated on May 17, 1995, is a global financial institution. The Firm provides a range of financial services and products to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Firm operates through three divisions: Retail and Business Banking, Wealth Management and Capital Markets. The Company’s Retail and Business Banking segment provides personal and business clients across Canada with financial advice, services and products in its banking centers or through remote channels, such as mobile advisors, telephone, online or mobile banking. The Company’s Wealth Management segment provides advice and investment solutions. The Company’s Capital Markets segment provides integrated credit and global markets products, investment banking advisory services and research to corporate, government and institutional clients around the world.

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