Wall Street analyst has provided a rating update for the Financial sector company on August 24, while remaining neutral on the stock. Canadian Imperial Bank (TSX: CM) received a Hold on August 24 from BMO Capital’s analyst Sohrab Movahedi, with a C$135 price target.
According to TipRanks.com, Movahedi is ranked #1269 out of 4872 analysts.
Currently, the analyst consensus on Canadian Imperial Bank is a Moderate Buy with an average price target of C$134.50, implying a 9.7% upside from current levels. In a report issued on August 24, National Bank also maintained a Hold rating on the stock with a C$127 price target.
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Canadian Imperial Bank’s market cap is currently C$54.41B and has a P/E ratio of 10.7. The company has a Price to Book ratio of 1.69.
Canadian Imperial Bank of Commerce operates as a global financial institution, which provides a full range of financial products and services to individual, small business, commercial, corporate and institutional clients. It operates through the following segments: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.
The company’s shares closed on Wednesday at C$122.56, close to its 52-week high of C$124.37.
