Toronto-Dominion Bank (TSE:TD) Downgraded to “Neutral” Rating by Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce cut shares of Toronto-Dominion Bank (TSE:TD) (NYSE:TD) from an outperform rating to a neutral rating in a research report sent to investors on Friday morning,BayStreet.CA reports. The brokerage currently has C$136.00 target price on the stock, up from their previous target price of C$129.00.

TD has been the subject of several other reports. Bank of America lifted their price objective on shares of Toronto-Dominion Bank from C$130.00 to C$132.00 in a research note on Friday, December 5th. Raymond James Financial raised their target price on Toronto-Dominion Bank from C$119.00 to C$122.00 and gave the stock a “market perform” rating in a research note on Friday, December 5th. Canaccord Genuity Group boosted their price target on Toronto-Dominion Bank from C$131.00 to C$141.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group reduced their price objective on Toronto-Dominion Bank from C$130.00 to C$128.00 in a research note on Wednesday. Finally, Barclays lifted their target price on Toronto-Dominion Bank from C$114.00 to C$118.00 and gave the stock an “underweight” rating in a report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$131.33.

Toronto-Dominion Bank Price Performance

Shares of TD opened at C$129.93 on Friday. The firm has a market capitalization of C$217.86 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.22 and a beta of 1.00. The company has a 50-day moving average of C$129.22 and a 200 day moving average of C$116.25. Toronto-Dominion Bank has a 1-year low of C$78.06 and a 1-year high of C$134.50.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted its quarterly earnings results on Thursday, December 4th. The company reported C$2.18 EPS for the quarter. The business had revenue of C$16.03 billion during the quarter. Toronto-Dominion Bank had a net margin of 15.80% and a return on equity of 7.84%. On average, equities analysts anticipate that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current fiscal year.

Toronto-Dominion Bank Company Profile

Toronto-Dominion is one of Canada’s two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank’s U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab.