Canaccord Genuity Maintains Hold Rating for Canadian Bank of Commerce with $100.46 Price Target.

Canadian Bank of Commerce (CM) received a Hold rating from Canaccord Genuity with a price target of C$100.46. The company's shares closed at $73.31 last Friday. Analyst Matthew Lee has a 15.8% average return and a 67.96% success rate on recommended stocks. The stock has a Moderate Buy analyst consensus rating with a $73.16 average price target.

Canadian Bank of Commerce (CM) has been the subject of varied analyst opinions, with a recent Hold rating from Canaccord Genuity. The stock closed at $73.31 last Friday, and the company's shares have seen a range of analyst price targets and ratings over the past three months. This article aims to provide a comprehensive overview of the current analyst consensus on CM.

Analyst Ratings and Price Targets

According to TipRanks [1], CM received 10 Moderate Buy ratings, 6 Buy ratings, 3 Hold ratings, and 1 Sell rating from analysts in the past three months. The average price target for CM is C$100.01, with a high forecast of C$112.01 and a low forecast of C$94.01. The average price target represents a -0.60% change from the last price of C$100.61.

Key Analyst Insights

Matthew Lee of Canaccord Genuity recently reiterated a Hold rating with a price target of C$100.46 [2]. Lee has a 15.8% average return and a 67.96% success rate on recommended stocks. The overall analyst consensus is a Moderate Buy rating, with an average price target of C$73.16.

Financial Performance

CM's earnings forecast for the next quarter is C$1.97, with a range of C$1.85 to C$2.09 [3]. The previous quarter's earnings per share (EPS) was C$2.05, and CM has beaten its EPS estimate 100.00% of the time in the past 12 months. Additionally, CM's sales forecast for the next quarter is C$7.03B, with a range of C$6.90B to C$7.14B [4]. The previous quarter's sales results were C$14.97B, and CM has beaten its sales estimates 100.00% of the time in the past 12 months.

Conclusion

Canadian Bank of Commerce continues to be a topic of interest among analysts, with varying opinions on its future prospects. While some analysts maintain a Hold rating, others see potential in the stock. Investors should carefully consider the financial performance and analyst consensus before making investment decisions.

References

[1] https://www.tipranks.com/stocks/tse:cm/forecast
[2] https://www.tipranks.com/stocks/tse:cm/forecast
[3] https://www.tipranks.com/stocks/tse:cm/forecast
[4] https://www.tipranks.com/stocks/tse:cm/forecast