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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Canadian Imperial Bank of Commerce    CM   CA1360691010

CANADIAN IMPERIAL BANK OF COMMERCE (CM)
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TSX up most in two months as energy stocks rally

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11/30/2017 | 10:37pm CEST
FILE PHOTO - A man walks past an old Toronto Stock Exchange sign in Toronto

TORONTO (Reuters) - Canada's main stock index had its biggest one-day gain in more than two months on Thursday, with energy shares rallying as OPEC members extended output cuts and Canadian Imperial Bank of Commerce (>> Canadian Imperial Bank of Commerce) rising after forecast-busting earnings.

TORONTO (Reuters) - Canada's main stock index had its biggest one-day gain in more than two months on Thursday, with energy shares rallying as OPEC members extended output cuts and Canadian Imperial Bank of Commerce (>> Canadian Imperial Bank of Commerce) rising after forecast-busting earnings.

* The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> ended up 99.76 points, or 0.62 percent, at 16,067.48. Seven of its 10 main groups finished higher, with advancers outnumbering decliners by a 4.5-to-1 ratio.

* The energy group climbed 2.2 percent, with crude prices boosted by a deal among OPEC members and other oil producers to extend output cuts until the end of 2018.

* Pipeline operator Enbridge Inc (>> Enbridge Inc) jumped 6.3 percent to C$48.65 after saying it plans to sell C$3 billion of assets.

* Toronto-Dominion Bank (>> Toronto-Dominion Bank), the country's second-biggest bank, lost 2.4 percent to C$73.24 as lower investment banking revenue contributed to a fourth-quarter earnings miss, while No. 5 lender Canadian Imperial Bank of Commerce (>> Canadian Imperial Bank of Commerce) rose 2.9 percent to C$118.14 after its earnings exceeded expectations.

* Lundin Mining Corp (>> Lundin Mining Corporation) slumped 16.1 percent to C$7.52 in heavy volume after the diversified base metals miner lowered production guidance for 2018 at a flagship copper mine and several analysts cut their recommendations and target prices on the stock.

* The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.3 percent.

(Reporting by Alastair Sharp; Editing by Meredith Mazzilli and Marguerita Choy)

By Alastair Sharp

Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN IMPERIAL BANK OF COMMERCE -0.39% 115.74 Delayed Quote.-5.57%
ENBRIDGE INC 0.72% 42.88 Delayed Quote.-15.22%
LUNDIN MINING CORPORATION -1.49% 5.41 Delayed Quote.-28.71%
S&P/TSX COMPOSITE INDEX 0.63% 15470.1 Delayed Quote.-4.90%
TORONTO-DOMINION BANK -0.31% 74.04 Delayed Quote.0.87%
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Financials (CAD)
Sales 2018 18 034 M
EBIT 2018 7 559 M
Net income 2018 5 283 M
Debt 2018 -
Yield 2018 4,59%
P/E ratio 2018 9,82
P/E ratio 2019 9,40
Capi. / Sales 2018 2,85x
Capi. / Sales 2019 2,73x
Capitalization 51 337 M
Chart CANADIAN IMPERIAL BANK OF COMMERCE
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Technical analysis trends CANADIAN IMPERIAL BANK OF
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 133  CAD
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
Victor Dodig President, Chief Executive Officer & Director
John Paul Manley Chairman
Kevin Patterson Group Head-Technology & Operations
Kevin A. Glass Chief Financial Officer & Senior Executive VP
Brent Stanley Belzberg Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
CANADIAN IMPERIAL BANK OF COMMERCE-5.57%39 278
JP MORGAN CHASE & COMPANY-0.56%363 278
BANK OF AMERICA-3.59%282 168
INDUSTRIAL AND COMMERCIAL BANK OF CHINA-12.42%265 123
WELLS FARGO-12.25%250 186
CHINA CONSTRUCTION BANK CORPORATION-11.33%210 622