Toronto-Dominion Bank (TSE:TD) Lifted to Outperform at Scotiabank

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) was upgraded by investment analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a report issued on Wednesday, BayStreet.CA reports. The firm presently has a C$93.00 price objective on the stock, up from their previous price objective of C$86.00. Scotiabank’s price objective would suggest a potential upside of 17.95% from the company’s current price.

TD has been the subject of a number of other reports. Canaccord Genuity Group raised their target price on Toronto-Dominion Bank from C$95.00 to C$96.00 and gave the company a “buy” rating in a research note on Friday, March 1st. National Bankshares lifted their price objective on Toronto-Dominion Bank from C$86.00 to C$92.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 20th. CIBC lowered their price objective on Toronto-Dominion Bank from C$88.00 to C$86.00 and set a “neutral” rating for the company in a research report on Friday, March 8th. Bank of America lowered their price objective on Toronto-Dominion Bank from C$88.00 to C$86.00 in a research report on Wednesday, February 14th. Finally, Desjardins lowered their price objective on Toronto-Dominion Bank from C$96.00 to C$94.00 and set a “buy” rating for the company in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Toronto-Dominion Bank has an average rating of “Moderate Buy” and a consensus price target of C$91.02.

Toronto-Dominion Bank Price Performance

Toronto-Dominion Bank stock opened at C$78.85 on Wednesday. The stock has a fifty day moving average price of C$80.55 and a two-hundred day moving average price of C$81.40. Toronto-Dominion Bank has a 52-week low of C$75.89 and a 52-week high of C$87.10. The firm has a market capitalization of C$139.56 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.08 and a beta of 0.83.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last released its quarterly earnings data on Thursday, February 29th. The company reported C$2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.93 by C$0.07. Toronto-Dominion Bank had a return on equity of 10.72% and a net margin of 23.86%. The firm had revenue of C$13.71 billion during the quarter, compared to analyst estimates of C$12.63 billion. On average, equities research analysts predict that Toronto-Dominion Bank will post 7.8683417 EPS for the current fiscal year.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.