Canaccord Genuity Group Forecasts Strong Price Appreciation for Toronto-Dominion Bank (TSE:TD) Stock

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its target price raised by research analysts at Canaccord Genuity Group from C$158.00 to C$169.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 8.99% from the company’s previous close.

TD has been the subject of a number of other research reports. BMO Capital Markets lifted their target price on Toronto-Dominion Bank from C$135.00 to C$144.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Raymond James Financial raised Toronto-Dominion Bank from a “hold” rating to a “moderate buy” rating and raised their price target for the stock from C$141.00 to C$152.50 in a research note on Tuesday, May 12th. Barclays raised their price target on Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the stock an “underweight” rating in a research note on Friday. Royal Bank Of Canada decreased their price target on Toronto-Dominion Bank from C$148.00 to C$138.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Finally, Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from C$142.00 to C$150.00 in a research note on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$148.50.

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock traded down C$1.12 on Friday, reaching C$155.06. The company had a trading volume of 2,101,841 shares, compared to its average volume of 5,957,233. The firm has a market cap of C$258.77 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 1.22 and a beta of 0.92. The firm’s 50-day moving average price is C$141.50 and its two-hundred day moving average price is C$132.07. Toronto-Dominion Bank has a 1 year low of C$94.05 and a 1 year high of C$157.70.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last announced its earnings results on Thursday, May 28th. The company reported C$2.38 EPS for the quarter. The firm had revenue of C$16.04 billion during the quarter. Toronto-Dominion Bank had a return on equity of 17.26% and a net margin of 19.11%. As a group, analysts anticipate that Toronto-Dominion Bank will post 7.2160149 EPS for the current year.

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.