Is there a Bearish outlook for Canadian Imperial Bank of Commerce (NYSE:CM) this week?

January 16, 2018 - By Adrian Mccoy

 Is there a Bearish outlook for Canadian Imperial Bank of Commerce (NYSE:CM) this week?

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

Among 15 analysts covering Canadian Imperial Bank Of Commerce (NYSE:CM), 6 have Buy rating, 2 Sell and 7 Hold. Therefore 40% are positive. Canadian Imperial Bank Of Commerce had 29 analyst reports since August 4, 2015 according to SRatingsIntel. The company was downgraded on Thursday, December 3 by TD Securities. On Thursday, June 30 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. Zacks downgraded Canadian Imperial Bank of Commerce (NYSE:CM) on Monday, September 7 to “Sell” rating. The stock of Canadian Imperial Bank of Commerce (NYSE:CM) earned “Hold” rating by Zacks on Monday, September 21. The firm has “Underperform” rating given on Monday, August 31 by Credit Suisse. RBC Capital Markets maintained Canadian Imperial Bank of Commerce (NYSE:CM) on Friday, August 28 with “Sector Perform” rating. As per Tuesday, December 19, the company rating was upgraded by Barclays Capital. The stock of Canadian Imperial Bank of Commerce (NYSE:CM) earned “Buy” rating by Canaccord Genuity on Thursday, August 24. The company was maintained on Friday, August 26 by RBC Capital Markets. BMO Capital Markets maintained the stock with “Outperform” rating in Monday, August 31 report. Below is a list of Canadian Imperial Bank of Commerce (NYSE:CM) latest ratings and price target changes.

19/12/2017 Broker: Barclays Capital Old Rating: Underweight New Rating: Overweight Upgrade
01/12/2017 Broker: Credit Suisse Old Rating: Neutral New Rating: Outperform Upgrade
25/10/2017 Broker: Citigroup Old Rating: Buy New Rating: Neutral Downgrade
06/09/2017 Broker: TD Securities Old Rating: Hold New Rating: Buy Upgrade
24/08/2017 Broker: Canaccord Genuity Rating: Buy New Target: $117.0 Maintain

The stock decreased 0.13% or $0.13 during the last trading session, reaching $98.49. About 166,705 shares traded. Canadian Imperial Bank of Commerce (NYSE:CM) has risen 2.52% since January 16, 2017 and is uptrending. It has underperformed by 14.18% the S&P500.

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial services and products to individual, small business, commercial, corporate, and institutional clients in Canada and internationally. The company has market cap of $42.80 billion. It operates through three business units: Retail and Business Banking, Wealth Management, and Capital Markets. It has a 10.92 P/E ratio. The Retail and Business Banking business unit offers deposits, including checking, savings, and business accounts; loans, mortgages, lines of credit, and business lending services; cards; insurance services and products; and financial advisory services through advisors and relationship managers, and banking centers, as well as through remote channels, such as mobile advisors, telephone banking, online banking, and mobile banking.

More notable recent Canadian Imperial Bank of Commerce (NYSE:CM) news were published by: Theglobeandmail.com which released: “US lawsuit accuses banks of rigging a Canadian rate benchmark” on January 15, 2018, also Bnn.ca with their article: “US lawsuit accuses 9 banks of rigging Canadian rate benchmark” published on January 15, 2018, Theglobeandmail.com published: “CIBC dives back into tech sector with Wellington Financial acquisition” on January 08, 2018. More interesting news about Canadian Imperial Bank of Commerce (NYSE:CM) were released by: Latimes.com and their article: “Canadian officials see rising odds that Trump will leave NAFTA” published on January 10, 2018 as well as Fool.ca‘s news article titled: “Why Canadian Imperial Bank of Commerce Might Be the Best Bank Stock to Buy in 2018” with publication date: December 24, 2017.

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