TD Bank price target raised to C$95 from C$90 at BMO Capital

BMO Capital raised the firm’s price target on TD Bank (TD) to C$95 from C$90 and keeps an Outperform rating on the shares. The company’s Q1 result topped consensus with better Wealth & Insurance and U.S. Retail, though this was offset by lower Canadian P&C and an in-line Wholesale Banking, the analyst tells investors in a research note. BMO further notes that TD’s very rich capital position following sale of Charles Schwab (SCHW) shares provides “comfortable downside protection”.