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Credit Suisse Stick to Their Hold Rating for Canadian Imperial Bank Of Commerce

Published 12/08/2020, 08:55 AM
Updated 12/08/2020, 08:55 AM


Credit Suisse (SIX:CSGN) analyst Mike Rizvanovic maintained a Hold rating on Canadian Imperial Bank Of Commerce on Friday, setting a price target of C$108, which is approximately 3.35% below the present share price of $87.33.

Rizvanovic expects Canadian Imperial Bank Of Commerce to post earnings per share (EPS) of $0.00 for the fourth quarter of 2020.

The current consensus among 9 TipRanks analysts is for a Moderate Buy rating of shares in Canadian Bank of Commerce (NYSE:CM), with an average price target of $92.82.
The analysts price targets range from a high of $108.63 to a low of $73.46.

In its latest earnings report, released on 10/31/2020, the company reported a quarterly revenue of $4.59 billion and a net profit of $0. The company's market cap is $38.78 billion.

According to TipRanks.com, Credit Suisse analyst Mike Rizvanovic is currently ranked with 3 stars on a 0-5 stars ranking scale, with an average return of 4.8% and a 56.00% success rate.

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.

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