Canadian Imperial Bank (CM) Gets a Hold Rating from National Bank

By Jason Carr

Canadian Imperial Bank (CMResearch Report), the Financial sector company, was revisited by a Wall Street analyst today. Analyst Gabriel Dechaine from National Bank remains neutral on the stock and has a C$120 price target.

According to TipRanks.com, Dechaine is a 5-star analyst with an average return of 10.0% and a 74.6% success rate. Dechaine covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and Toronto Dominion Bank.

Currently, the analyst consensus on Canadian Imperial Bank is a Moderate Buy with an average price target of C$125, representing an 11.4% upside. In a report issued on February 21, Scotiabank also reiterated a Hold rating on the stock with a C$126 price target.

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The company has a one-year high of C$125.21 and a one-year low of C$99.51. Currently, Canadian Imperial Bank has an average volume of 1.49M.

Canadian Imperial Bank of Commerce is a financial institution, which engages in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Small Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, and Corporate and Other. The Canadian Personal and Small Business Banking segment provides personal and business clients with financial advice, products, and services. The Canadian Commercial Banking and Wealth Management segment offers banking and wealth management services to middle-market companies, entrepreneurs, high-net-worth individuals, and families, as well as asset management services to institutional investors. The U.S. Commercial Banking and Wealth Management segment includes commercial, personal and small business banking, and wealth management services. The Capital Markets segment consists of integrated global markets products and services, investment banking advisory and execution, corporate banking and top ranked research to corporate, government and, institutional clients. The Corporate and Other segment refers to the functional groups such as administration, client connectivity and innovation, finance, human resources and communications, internal audit, risk management, technology and operations, and other support groups. The company was founded on June 1, 1961 and is headquartered in Toronto, Canada.

The company’s shares closed on Friday at C$112.16.