Canadian Imperial Bank of Commer (NYSE: CM) has reported earnings for its third fiscal quarter (ending July 31) of $1.83 versus $1.48 for the same period a year ago. For the latest four quarters through July 31, E.P.S. were $6.92 compared to $4.90 a year ago.
Recent Price Action
Canadian Imperial Bank of Commer (NYSE: CM) stock closed at $57.51 on 8/29/24 after a very large increase of 5.5%. Moreover, trading volume in this advance was unusually high at 180% of normal. The stock has risen 7.6% during the last week and has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
CM is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Canadian Imperial Bank of Commer has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Canadian Imperial Bank of Commer has a good Power Rating of 73 and a very high Appreciation Score of 97, resulting in the Highest Value Trend Rating.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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