The Toronto-Dominion Bank (TD) Receives a Buy from National Bank


In a new note to investors today, an analyst has provided a rating update for The Toronto-Dominion Bank (TD). Analyst Gabriel Dechaine from National Bank remains bullish on the stock and has a C$85 price target.

According to TipRanks.com, Dechaine is a 5-star analyst with an average return of 9.7% and a 69.8% success rate. Dechaine covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and Toronto Dominion Bank.

Currently, the analyst consensus on The Toronto-Dominion Bank is a Moderate Buy with an average price target of C$83.33, which is a 13.3% upside from current levels. In a report issued on November 22, Canaccord Genuity also maintained 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 July 31, the company reported a quarterly revenue of C$13.74 billion and net profit of C$3.09 billion. In comparison, last year the company earned revenue of C$11.62 billion and had a net profit of C$2.68 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 Friday at C$73.56.

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