RBC Capital analyst Darko Mihelic upgraded TD Bank (TD) to Outperform from Sector Perform with a price target of C$120, up from C$93. TD’s increased focus on capital return and efficiency is a significant shift and its updated strategy its viewed favorably, the analyst tells investors in a research note. The bank is still subject to an asset cap in the U.S. and AML risks may linger longer than expected and furthermore execution is not guaranteed, the firm says.
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Read More on TD:
- TD Bank upgraded to Outperform from Sector Perform at RBC Capital
- TD Bank price target raised to C$100 from C$97 at Barclays
- TD Bank price target raised to C$116 from C$110 at Desjardins
- TD Bank price target raised to C$119 from C$113 at Canaccord
- TD Bank price target raised to C$107 from C$102 at BMO Capital