Desjardins Issues Positive Forecast for Toronto-Dominion Bank (TSE:TD) Stock Price

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its target price lifted by equities researchers at Desjardins from C$145.00 to C$154.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price objective suggests a potential upside of 6.54% from the stock’s current price.

Several other analysts also recently commented on TD. Canaccord Genuity Group upped their price objective on shares of Toronto-Dominion Bank from C$147.00 to C$149.00 and gave the company a “buy” rating in a report on Monday, March 9th. Raymond James Financial upped their price objective on shares of Toronto-Dominion Bank from C$138.00 to C$141.00 and gave the company a “market perform” rating in a report on Friday, February 27th. Royal Bank Of Canada dropped their price objective on shares of Toronto-Dominion Bank from C$148.00 to C$138.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Scotiabank raised shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from C$142.00 to C$150.00 in a report on Monday. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of Toronto-Dominion Bank from C$140.00 to C$142.00 in a report on Thursday, March 5th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$140.42.

Toronto-Dominion Bank Price Performance

TSE:TD traded up C$0.01 during trading hours on Tuesday, hitting C$144.55. 996,581 shares of the company were exchanged, compared to its average volume of 6,331,485. The stock has a market capitalization of C$241.23 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.22 and a beta of 0.86. Toronto-Dominion Bank has a 52-week low of C$87.17 and a 52-week high of C$147.00. The company’s 50 day moving average price is C$134.84 and its 200-day moving average price is C$127.43.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last released its earnings results on Thursday, February 26th. The company reported C$2.44 earnings per share for the quarter. The company had revenue of C$16.63 billion for the quarter. Toronto-Dominion Bank had a net margin of 19.11% and a return on equity of 17.26%. On average, equities analysts predict that Toronto-Dominion Bank will post 7.2160149 earnings per share 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.