Royal Bank Of Canada Forecasts Strong Price Appreciation for Toronto-Dominion Bank (TSE:TD) Stock

Key Points

• Royal Bank of Canada raised TD’s price target to C$173 from C$156 and maintained an “outperform” rating, implying 2.82% upside from the previous close.
• Analyst sentiment is broadly positive: seven analysts rate the stock a Buy, three a Hold and one a Sell, producing a “Moderate Buy” consensus and an average price target of C$170.
• TD reported quarterly EPS of C$2.77 and revenue of C$16.93 billion, while its shares traded near C$168.25 and remained close to their one-year high of C$175.33.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its price target upped by analysts at Royal Bank Of Canada from C$156.00 to C$173.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 2.82% from the company's previous close.

Several other brokerages have also recently issued reports on TD. Canadian Imperial Bank of Commerce lifted their price objective on shares of Toronto-Dominion Bank from C$164.00 to C$184.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 19th. Jefferies Financial Group increased their target price on shares of Toronto-Dominion Bank from C$159.00 to C$164.00 in a research note on Friday. Keefe, Bruyette & Woods set a C$180.00 target price on shares of Toronto-Dominion Bank and gave the stock a "hold" rating in a report on Friday, August 21st. National Bank Financial set a C$190.00 price target on shares of Toronto-Dominion Bank and gave the stock an "outperform" rating in a research report on Monday. Finally, Barclays upped their price target on Toronto-Dominion Bank from C$140.00 to C$164.00 in a report on Friday, August 21st. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$170.00.

Toronto-Dominion Bank Trading Up 0.2%

TD stock traded up C$0.41 during trading hours on Friday, hitting C$168.25. 1,043,349 shares of the stock traded hands, compared to its average volume of 5,520,668. The stock has a 50-day simple moving average of C$169.31 and a 200 day simple moving average of C$151.43. The company has a market cap of C$277.96 billion, a P/E ratio of 19.75, a P/E/G ratio of 1.22 and a beta of 0.88. Toronto-Dominion Bank has a one year low of C$100.43 and a one year high of C$175.33.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last issued its quarterly earnings results on Thursday, August 27th. The company reported C$2.77 EPS for the quarter. Toronto-Dominion Bank had a net margin of 13.21% and a return on equity of 11.85%. The firm had revenue of C$16.93 billion for the quarter. Analysts forecast that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current year.

Insider Transactions at Toronto-Dominion Bank

In other Toronto-Dominion Bank news, insider Paul Martyn Clark sold 27,649 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$161.22, for a total transaction of C$4,457,571.78. Following the sale, the insider owned 260 shares in the company, valued at approximately C$41,917.20. The trade was a 99.07% decrease in their position. Also, insider Kelvin Vi Luan Tran sold 8,498 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of C$156.61, for a total value of C$1,330,871.78. Following the sale, the insider owned 26,677 shares in the company, valued at approximately C$4,177,884.97. The trade was a 24.16% decrease in their position. Company insiders own 0.08% of the company's stock.

Toronto-Dominion Bank Company Profile

TD Asset Management Inc ('TDAM'), a member of TD Bank Group, is a Canadian investment management firm with a growing global presence. Bringing together three decades of investment experience, our broad selection of strategies and solutions includes fundamental equities, quantitative and passive equities, fixed income across the credit quality spectrum and alternatives, such as private credit, infrastructure and real estate. TDAM offers institutional investment solutions to corporations, pension funds, endowments and foundations, sovereign wealth funds and superannuation funds, among others.

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