TD Securities Sticks to Their Hold Rating for Canadian Imperial Bank

By Jason Carr

In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, Canadian Imperial Bank (TSX: CM). Analyst Mario Mendonca from TD Securities remains neutral on the stock and has a C$120 price target.

Mendonca commented:

“We expect trading revenue to continue to slow noticeably in H2/17 as the TRS business starts to moderate (May). NII was up 4% y/y (in line with our estimate).”

According to, Mendonca is a 3-star analyst with an average return of 4.7% and a 75.0% success rate. Mendonca covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and Royal Bank Of Canada.

Currently, the analyst consensus on Canadian Imperial Bank is Hold and the average price target is C$118.83, representing a 12.8% upside.

In a report issued on May 12, Scotiabank also maintained a Hold rating on the stock with a C$126 price target.

Canadian Imperial Bank’s market cap is currently C$42.1B and has a P/E ratio of 8.9.

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 three segments: Retail and Business Banking, Wealth Management and Wholesale Banking. The Retail and Business Banking segment provides clients with financial advice, banking, investment, and authorized insurance products and services. The Wealth Management segment provides relationship-based advisory services and a suite of investment solutions to meet the needs of institutional, retail and high net worth clients. The Wholesale Banking segment provides a wide range of credit, capital markets, investment banking and research products and services to government, institutional, corporate and retail clients. Canadian Imperial Bank of Commerce was founded on June 1, 1961 and is headquartered in Toronto, Canada.

The company’s shares closed last Friday at $105.37.