Desjardins Issues Positive Forecast for Toronto-Dominion Bank (TSE:TD) Stock Price

Key Points

• Desjardins raised its price target for Toronto-Dominion Bank from C$145 to C$154 and maintained a "buy" rating, implying about a 6.54% upside from the current price.
• Other brokers mostly boosted targets as well, leaving a MarketBeat consensus rating of "Moderate Buy" with a consensus price target of C$140.42.
• TD shares traded around C$144.55 (near a 52‑week high of C$147) and the bank reported C$2.44 EPS last quarter with a 19.11% net margin and 17.26% return on equity.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its price target lifted by equities researchers at Desjardins from C$145.00 to C$154.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Desjardins' target price would indicate a potential upside of 6.54% from the stock's current price.

TD has been the subject of several other research reports. Scotiabank upgraded shares of Toronto-Dominion Bank from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the company from C$142.00 to C$150.00 in a report on Monday. National Bank Financial boosted their price target on shares of Toronto-Dominion Bank from C$138.00 to C$146.00 and gave the company an "outperform" rating in a report on Friday, February 27th. Royal Bank Of Canada reduced their price target on shares of Toronto-Dominion Bank from C$148.00 to C$138.00 and set an "outperform" rating for the company in a report on Wednesday, March 25th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Toronto-Dominion Bank from C$140.00 to C$142.00 in a research report on Thursday, March 5th. Finally, BMO Capital Markets lifted their price objective on shares of Toronto-Dominion Bank from C$135.00 to C$144.00 and gave the stock an "outperform" rating in a research report on Friday, February 27th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$140.42.

Toronto-Dominion Bank Price Performance

Shares of TSE:TD traded up C$0.01 during trading hours on Tuesday, hitting C$144.55. The company's stock had a trading volume of 996,581 shares, compared to its average volume of 6,331,485. Toronto-Dominion Bank has a 52 week low of C$87.17 and a 52 week high of C$147.00. The company has a market capitalization of C$241.23 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.22 and a beta of 0.86. The firm's fifty day moving average price is C$134.84 and its 200 day moving average price is C$127.43.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last posted its quarterly earnings results on Thursday, February 26th. The company reported C$2.44 EPS for the quarter. Toronto-Dominion Bank had a net margin of 19.11% and a return on equity of 17.26%. The business had revenue of C$16.63 billion during the quarter. On average, equities research analysts predict that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current fiscal year.

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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