Barclays Upgrades Toronto-Dominion Bank (TSE:TD) to Overweight

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Toronto-Dominion Bank (TSE:TD) (NYSE:TD) was upgraded by investment analysts at Barclays from an “underweight” rating to an “overweight” rating in a research note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a C$84.00 target price on the stock, up from their previous target price of C$79.00. Barclays‘s target price would suggest a potential upside of 12.00% from the company’s previous close.

Several other equities analysts have also issued reports on TD. National Bank Financial lowered their target price on shares of Toronto-Dominion Bank from C$85.00 to C$83.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Desjardins lifted their target price on shares of Toronto-Dominion Bank from C$82.00 to C$83.00 in a report on Tuesday, May 14th. Canaccord Genuity lowered their target price on shares of Toronto-Dominion Bank from C$84.00 to C$82.00 in a report on Wednesday, May 15th. CSFB set a C$81.00 target price on shares of Toronto-Dominion Bank and gave the company an “outperform” rating in a report on Thursday, May 16th. Finally, CIBC lifted their target price on shares of Toronto-Dominion Bank from C$84.00 to C$85.00 in a report on Friday, May 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of C$85.67.

Toronto-Dominion Bank stock opened at C$75.00 on Tuesday. The company has a market cap of $137.79 billion and a price-to-earnings ratio of 12.09. Toronto-Dominion Bank has a fifty-two week low of C$65.56 and a fifty-two week high of C$80.05.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last released its earnings results on Thursday, May 23rd. The company reported C$1.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.67 by C$0.08. The business had revenue of C$10.23 billion for the quarter, compared to analysts’ expectations of C$9.68 billion. On average, equities research analysts anticipate that Toronto-Dominion Bank will post 7.379017 earnings per share for the current year.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.

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Analyst Recommendations for Toronto-Dominion Bank (TSE:TD)

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