|Bid||77.05 x 100|
|Ask||199,999.98 x 100|
|Day's range||98.04 - 98.96|
|52-week range||77.20 - 100.01|
|PE ratio (TTM)||10.91|
|Forward dividend & yield||4.11 (4.17%)|
|1y target est||91.11|
A Relative Strength Rating upgrade for Canadian Imperial Bank of Commerce shows improving technical performance. Will it continue?
Canadian Imperial Bank of Commerce shows improving price performance, earning an upgrade to its IBD Relative Strength Rating
Canadian Imperial's (CM) Q4 results reflect growth in revenues and a strong balance sheet. Yet, higher costs remain a headwind.
Canadian Imperial Bank of Commerce rose the most in six months after posting fourth-quarter profit that beat analysts’ expectations, while larger rival Toronto-Dominion Bank fell as earnings disappointed investors. “CIBC came in well ahead of expectations on the back of exceptionally strong domestic retail and a better than forecast contribution from its new U.S. platform," Barclays Plc analyst John Aiken said in a note. Given the negative sentiment on the stock, including short sellers, one would expect to see solid outperformance on CIBC as the market begins to rerate the stock, he said.