OTTAWA: Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, July 4th. According to Zacks, “CIBC is a leading North American financial institution that offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, in the United States and around the world. It offers these services through two distinct business lines: CIBC Retail Markets and CIBC World Markets. The former comprises CIBC’s personal, business banking and wealth businesses. It provides a full range of financial products and services to personal, business and wealth management clients, as well as investment management services globally to retail and institutional clients. CIBC is headquartered in Toronto, Canada. “
Several other analysts have also recently commented on CM. Credit Suisse Group upgraded Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a report on Friday, March 31st. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 18th. Finally, BidaskClub raised Canadian Imperial Bank of Commerce from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $100.63.
