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Canadian Bank of Commerce (CM) Receives a Rating Update from a Top Analyst

Tipranks - Tipranks - Fri Feb 20, 5:08AM CST

Bank of America Securities analyst Ebrahim Poonawala reiterated a Buy rating on Canadian Bank of Commerce yesterday and set a price target of C$148.00. The company’s shares closed yesterday at C$132.41.

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Poonawala covers the Financial sector, focusing on stocks such as Citigroup, Goldman Sachs Group, and US Bancorp. According to TipRanks, Poonawala has an average return of 19.0% and a 76.02% success rate on recommended stocks.

Currently, the analyst consensus on Canadian Bank of Commerce is a Moderate Buy with an average price target of C$135.97, a 2.69% upside from current levels. In a report released yesterday, Barclays also upgraded the stock to a Buy with a C$137.00 price target.

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CM market cap is currently C$122.1B and has a P/E ratio of 15.28.

Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CM in relation to earlier this year.

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