Last Updated: 08 Nov 2024
Executive Summary
Canadian Imperial Bank of Commerce (CM) is a leading diversified financial institution with a strong presence in Canada, the United States, and internationally. The company has a market capitalization of $61.08 billion and trades on the NYSE. CM's stock price has been on an upward trend in recent months, and it is currently trading at $64.64. The stock is trading at a trailing price-to-earnings (P/E) ratio of 12.7 and a forward P/E ratio of 11.89. Analysts have a consensus rating of "Buy" on the stock, with a target price of $54.85.
Company Overview
CM offers a wide range of financial products and services to personal, commercial, public sector, and institutional clients. The company's core businesses include retail banking, wealth management, commercial banking, and capital markets. CM has a strong track record of financial performance, and it has consistently generated positive earnings growth.
Fundamental Analysis
CM's financial performance has been solid in recent quarters. The company's revenue and earnings have both grown in the past year. CM's profit margin is 0.296, and its operating margin is 0.399. The company's return on assets is 0.0069, and its return on equity is 0.124.
CM's balance sheet is also strong. The company has a debt-to-equity ratio of 0.52, and it has a cash-to-debt ratio of 0.83. CM's financial leverage is moderate, and the company is well-positioned to withstand economic downturns.
Technical Analysis
CM's stock price has been on an upward trend in recent months. The stock is currently trading above its 50-day and 200-day moving averages. The stock's relative strength index (RSI) is 65.14, which indicates that the stock is overbought.
Short Term Outlook
In the short term, CM's stock price is likely to continue to trade in a range. The stock is overbought, and it may experience a pullback in the near term. However, the stock's long-term outlook is positive, and it is likely to continue to trend higher in the long run.
Long Term Outlook
CM's long-term outlook is positive. The company has a strong track record of financial performance, and it is well-positioned to benefit from the growth of the Canadian and global economies. CM's stock is a good investment for long-term investors.
Analyst Recommendations
Analysts have a consensus rating of "Buy" on CM's stock. The average target price for the stock is $54.85. Analysts believe that CM's stock is undervalued, and they recommend buying the stock at current levels.
