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 upped by investment analysts at Canaccord Genuity Group from C$158.00 to C$169.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 8.99% from the stock’s previous close.

Several other research firms have also recently issued reports on TD. Canadian Imperial Bank of Commerce increased their target price on Toronto-Dominion Bank from C$142.00 to C$151.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Desjardins increased their target price on Toronto-Dominion Bank from C$145.00 to C$154.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Jefferies Financial Group increased their target price on Toronto-Dominion Bank from C$134.00 to C$142.00 in a research report on Wednesday, May 20th. Raymond James Financial upgraded Toronto-Dominion Bank from a “hold” rating to a “moderate buy” rating and increased their target price for the stock from C$141.00 to C$152.50 in a research report on Tuesday, May 12th. Finally, Barclays raised their price target on Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the company an “underweight” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Toronto-Dominion Bank currently has a consensus rating of “Moderate Buy” and a consensus price target of C$148.50.

Toronto-Dominion Bank Trading Down 0.7%

TD stock traded down C$1.12 during trading on Friday, reaching C$155.06. The stock had a trading volume of 2,101,841 shares, compared to its average volume of 5,957,233. Toronto-Dominion Bank has a 52 week low of C$94.05 and a 52 week high of C$157.70. The stock’s 50 day moving average is C$141.50 and its two-hundred day moving average is C$132.07. The firm has a market cap of C$258.77 billion, a PE ratio of 12.56, a PEG ratio of 1.22 and a beta of 0.92.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted its earnings results on Thursday, May 28th. The company reported C$2.38 earnings per share for the quarter. Toronto-Dominion Bank had a return on equity of 17.26% and a net margin of 19.11%.The company had revenue of C$16.04 billion for the quarter. On average, research 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.