The Financial sector company, Canadian Imperial Bank (TSX: CM), has received a rating update from a Wall Street analyst on August 24. Analyst Gabriel Dechaine from National Bank rated Canadian Imperial Bank (TSX: CM) a Hold on August 24, setting a C$127 price target.
According to TipRanks.com, Dechaine is ranked #455 out of 4872 analysts.
Currently, the analyst consensus on Canadian Imperial Bank is a Strong Buy with an average price target of C$136.25.
Based on Canadian Imperial Bank’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of C$6.5 billion and net profit of C$1.37 billion. In comparison, last year the company earned revenue of C$5.22 billion and had a net profit of C$1.09 billion.
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$122.35, close to its 52-week high of C$124.37.
