TD Bank price target raised to C$98 from C$80 at National Bank

National Bank analyst Gabriel Dechaine raised the firm’s price target on TD Bank (TD) to C$98 from C$80 and keeps a Sector Perform rating on the shares after its Q4 results. The bank’s provision for credit losses was 17% below the firm’s forecast, the analyst tells investors in a research note. National Bank adds that it is boosting its modeled forward earnings multiple to 11.5-times from 10-times to reflect greater confidence in its earnings forecasts.