Canadian Imperial Bank of Commerce on Focus After Trading At All-Time Highs

 Canadian Imperial Bank of Commerce on Focus After Trading At All Time Highs

The stock of Canadian Imperial Bank of Commerce (TSE:CM) reached all time high today, Dec, 1 and still has $111.15 target or 3.00% above today’s $107.91 share price. This indicates more upside for the $42.83 billion company. This technical setup was reported by Barchart.com. If the $111.15 PT is reached, the company will be worth $1.28B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 801,138 shares traded hands. Canadian Imperial Bank of Commerce (TSE:CM) has risen 4.55% since April 27, 2016 and is uptrending. It has underperformed by 1.38% the S&P500.

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

Out of 9 analysts covering Canadian Imperial Bank Of Commerce (TSE:CM), 4 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 44% are positive. $123 is the highest target while $74 is the lowest. The $104.36 average target is -3.29% below today’s ($107.91) stock price. Canadian Imperial Bank Of Commerce has been the topic of 24 analyst reports since August 20, 2015 according to StockzIntelligence Inc. On Thursday, October 15 the stock rating was maintained by Beaufort Securities with “Buy”. Credit Suisse upgraded Canadian Imperial Bank of Commerce (TSE:CM) on Friday, August 28 to “Neutral” rating. The firm earned “Sector Perform” rating on Friday, October 21 by Scotia Capital. Canaccord Genuity maintained it with “” rating and $108 target price in Tuesday, November 22 report. The stock of Canadian Imperial Bank of Commerce (TSE:CM) earned “Hold” rating by TD Securities on Friday, December 4. Dundee Securities maintained Canadian Imperial Bank of Commerce (TSE:CM) rating on Wednesday, September 21. Dundee Securities has “Buy” rating and $123 price target.

More news for Canadian Imperial Bank of Commerce (TSE:CM) were recently published by: Wsj.com, which released: “Canadian Imperial Bank of Commerce to Repay Clients for Overcharging” on October 28, 2016. Fool.ca‘s article titled: “Why Canadian Imperial Bank of Commerce Isn’t Your 1-Stop Bank” and published on November 07, 2016 is yet another important article.

Canadian Imperial Bank of Commerce is a global financial institution. The company has a market cap of $42.83 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 10.46 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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