Barclays Sticks to Its Buy Rating for Canadian Bank of Commerce (CM)

Barclays analyst Brian Morton maintained a Buy rating on Canadian Bank of Commerce on February 27 and set a price target of C$141.00. The company’s shares closed last Friday at C$137.79.

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Morton covers the Financial sector, focusing on stocks such as Bank Of Montreal, Bank Of Nova Scotia, and Canadian Bank of Commerce. According to TipRanks, Morton has an average return of -7.8% and a 32.58% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Canadian Bank of Commerce with a C$150.42 average price target, a 9.16% upside from current levels. In a report released on February 27, BMO Capital also maintained a Buy rating on the stock with a C$150.00 price target.

Based on Canadian Bank of Commerce’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of C$15.51 billion and a net profit of C$2.17 billion. In comparison, last year the company earned a revenue of C$6.6 billion and had a net profit of C$1.87 billion

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.