Fintel reports that on January 9, 2025, RBC Capital upgraded their outlook for Canadian Imperial Bank of Commerce (NYSE:CM) from Sector Perform to Outperform.
Analyst Price Forecast Suggests 5.90% Upside
As of December 23, 2024, the average one-year price target for Canadian Imperial Bank of Commerce is $66.77/share. The forecasts range from a low of $48.03 to a high of $83.30. The average price target represents an increase of 5.90% from its latest reported closing price of $63.05 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Canadian Imperial Bank of Commerce is 24,823MM, an increase of 5.16%. The projected annual non-GAAP EPS is 6.89.
What is the Fund Sentiment?
There are 690 funds or institutions reporting positions in Canadian Imperial Bank of Commerce. This is an increase of 52 owner(s) or 8.15% in the last quarter. Average portfolio weight of all funds dedicated to CM is 0.29%, an increase of 8.47%. Total shares owned by institutions decreased in the last three months by 8.09% to 441,253K shares. 
The put/call ratio of CM is 0.96, indicating a bullish outlook.
What are Other Shareholders Doing?
Royal Bank Of Canada holds 72,619K shares representing 7.71% ownership of the company. In its prior filing, the firm reported owning 75,698K shares , representing a decrease of 4.24%. The firm increased its portfolio allocation in CM by 36.27% over the last quarter.
Bank Of Montreal holds 40,189K shares representing 4.26% ownership of the company. In its prior filing, the firm reported owning 50,632K shares , representing a decrease of 25.99%. The firm decreased its portfolio allocation in CM by 67.65% over the last quarter.
Bank Of Nova Scotia holds 22,827K shares representing 2.42% ownership of the company. In its prior filing, the firm reported owning 24,857K shares , representing a decrease of 8.89%. The firm decreased its portfolio allocation in CM by 29.41% over the last quarter.
Td Asset Management holds 22,749K shares representing 2.41% ownership of the company. In its prior filing, the firm reported owning 20,879K shares , representing an increase of 8.22%. The firm decreased its portfolio allocation in CM by 27.67% over the last quarter.
Toronto Dominion Bank holds 21,904K shares representing 2.32% ownership of the company. In its prior filing, the firm reported owning 25,942K shares , representing a decrease of 18.43%. The firm decreased its portfolio allocation in CM by 95.23% over the last quarter.
Canadian Imperial Bank Of Commerce Background Information
(This description is provided by the company.)
CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United Statesand around the world.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
