Toronto-Dominion Bank (TSE:TD) Stock Price Expected to Rise, Desjardins Analyst Says

Key Points

• Desjardins raised its price target on Toronto-Dominion Bank from C$183 to C$190 and maintained a “buy” rating, implying 6.92% upside from the price at the time of its note.
• Analyst views were mostly positive: seven rated TD a Buy, three Hold and one Sell. MarketBeat reported a “Moderate Buy” consensus and an average target of C$171.62.
• TD shares rose 1% to C$177.71 on Wednesday. The bank reported quarterly EPS of C$2.77 and revenue of C$16.93 billion.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its price target lifted by research analysts at Desjardins from C$183.00 to C$190.00 in a note issued to investors on Wednesday, BayStreet reports. The firm presently has a "buy" rating on the stock. Desjardins's target price indicates a potential upside of 6.92% from the stock's current price.

Several other research analysts have also commented on the stock. Scotiabank upped their price objective on shares of Toronto-Dominion Bank from C$180.00 to C$187.00 and gave the stock a "sector outperform" rating in a report on Friday, August 28th. Raymond James Financial lifted their target price on shares of Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Canaccord Genuity Group reduced their price target on shares of Toronto-Dominion Bank from C$197.00 to C$196.00 in a research report on Thursday, September 3rd. National Bank Financial boosted their price target on shares of Toronto-Dominion Bank from C$190.00 to C$196.00 and gave the company an "outperform" rating in a research report on Sunday, August 30th. Finally, Canadian Imperial Bank of Commerce increased their price target on shares of Toronto-Dominion Bank from C$184.00 to C$188.00 and gave the stock a "neutral" rating in a research note on Thursday, September 3rd. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$171.62.

Toronto-Dominion Bank Trading Up 1.0%

Shares of TD stock traded up C$1.84 during trading hours on Wednesday, reaching C$177.71. The company's stock had a trading volume of 1,310,199 shares, compared to its average volume of 5,657,532. Toronto-Dominion Bank has a one year low of C$112.53 and a one year high of C$179.80. The stock has a market capitalization of C$290.20 billion, a P/E ratio of 19.03, a P/E/G ratio of 1.22 and a beta of 0.79. The firm's fifty day simple moving average is C$170.36 and its 200 day simple moving average is C$155.12.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last announced its earnings results on Thursday, August 27th. The company reported C$2.77 EPS for the quarter. Toronto-Dominion Bank had a return on equity of 12.83% and a net margin of 14.36%. The company had revenue of C$16.93 billion during the quarter. As a group, equities research analysts forecast that Toronto-Dominion Bank will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Toronto-Dominion Bank

In other news, insider Kelvin Vi Luan Tran sold 8,000 shares of the business's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of C$172.92, for a total transaction of C$1,383,360.00. Following the sale, the insider owned 23,877 shares in the company, valued at approximately C$4,128,810.84. The trade was a 25.10% decrease in their position. Company insiders own 0.08% of the company's stock.

About Toronto-Dominion Bank

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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