Why Canadian Imperial Bank of Commerce (NYSE:CM) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $73.88 on Canadian Imperial Bank of Commerce (NYSE:CM) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $9.49 for the next fiscal and $N/A for underway quarter. Valuation Estimates Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Canadian Imperial Bank of Commerce (NYSE:CM) stands at 10.75. Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Canadian Imperial Bank of Comme, the PEG ratio for coming 3-5 years is 2.17. Technical Analysis The technical analysis highlights that Canadian Imperial Bank of Comme current price is trading $-1.64 points away -2.11% from $77.54, which stands as the 50-day moving average of the firm. The stock’s 200-day MA is $72.74 and, for now, the stock price is trading $3.16 or +4.35% away from that point. The 52-week high of Canadian Imperial Bank of Commerce (NYSE:CM) was $82.60 while lowest point recorded in 52-week was $56.29. It implies if stock price makes a movement of over $-6.70, it will record a new 52-week high. In the case of $+34.84% points drop, it will touch a new 52-week low.

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