Shares of The Toronto-Dominion Bank (TD) were revisited by a Wall Street analyst on May 21. The company received a Buy on May 21 from Scotiabank’s analyst Sumit Malhotra, with a C$84 price target.
According to TipRanks.com, Malhotra is a 4-star analyst with an average return of 8.0% and a 66.5% success rate. Malhotra covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and National Bank of Canada.
Currently, the analyst consensus on The Toronto-Dominion Bank is a Strong Buy with an average price target of C$82, an 11.0% upside from current levels. In a report issued on May 13, Desjardins also reiterated a Buy rating on the stock with a C$83 price target.
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Based on The Toronto-Dominion Bank’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of C$14.68 billion and net profit of C$2.39 billion. In comparison, last year the company earned revenue of C$12.68 billion and had a net profit of C$2.9 billion.
The Toronto-Dominion Bank engages in providing financial products and services. It operates through the following business segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.
The company’s shares closed on Wednesday at C$73.85.
