TD to Fund Newcomer and Refugee Programs


This article was originally published on TipRanks.com

Toronto-Dominion Bank (TD) has committed to supporting more than 20 local newcomer, settlement, and refugee programs in Ontario with a C$250,000 contribution.

A Better Future for Newcomers 

TD’s contribution is intended to allow newcomers to Ontario to bond in their new environments and to improve their futures and that of their families. (See Analysts’ Top Stocks on TipRanks)

The selected programs help a large number of newcomers settle in Canada and meet their basic needs during this crucial period of their lives. Ontario organizations receiving these donations include New Canadians Centre Peterborough, Capital Rainbow Refuge, Cross Culture Learner Centre, and North Bay & District Multicultural Centre.

Management Commentary 

“With these donations, TD is working with community groups to support newcomers and help to ensure they’re set up for success. We know that supporting these programs can help newcomers feel well-adjusted and integrated into their local communities, which in turn, helps them thrive and contribute to make our communities more resilient,” said Tara-Lynn Hughes, Senior Vice President, Greater Ontario Region, TD Bank Group.

Wall Street’s Take

On November 23, Scotiabank analyst Meny Grauman kept a Hold rating on TD while raising its price target to C$104 (from C$94). This implies 12.5% upside potential.

Overall, TD scores a Moderate Buy rating among Wall Street analysts based on five Buys and four Holds. The average Toronto-Dominion Bank price target of C$98.14 implies 6.1% upside potential to current levels.

TipRanks’ Smart Score

TD scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock returns have strong chances to beat the overall market.

Related News: 
TD Named North America’s Best Consumer Digital Bank
TD Named On Dow Jones Sustainability World Index
Scotiabank Donates C$400K to Professional Women’s Group Program

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