Canadian Imperial Bank (CM) Is Up 1.31% in One Week: What You Should Know

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Canadian Imperial Bank (CM) - CM currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2] - The bank has a Zacks Rank of 2 (Buy), suggesting it is positioned for potential outperformance in the market [3] Performance Metrics - Over the past week, CM shares increased by 1.31%, outperforming the Zacks Banks - Foreign industry, which rose by 0.88% [5] - In a longer timeframe, CM's monthly price change is 8.43%, compared to the industry's 5.83% [5] - Over the last quarter, CM shares have risen by 22.54%, and by 40.5% over the past year, significantly outperforming the S&P 500, which increased by 4.9% and 13.46% respectively [6] Trading Volume - CM's average 20-day trading volume is 1,040,096 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, 6 earnings estimates for CM have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $5.58 to $5.88 [9] - For the next fiscal year, 5 estimates have also moved upwards without any downward revisions [9] Conclusion - Given the strong performance metrics and positive earnings outlook, CM is identified as a 2 (Buy) stock with a Momentum Score of A, making it a potential candidate for near-term investment [11]