Analyst Alert: TD Bank (TD:TSX)

CIBC Reduces TD Bank's Valuation to $83.50 from $86

Analyst Ratings Alert

Analyst Ratings on TD Bank – December 18, 2023

STA Research:

  • Rating: Underperform
  • Target Price: CAD 70
  • Action: STA Research maintains an Underperform rating on TD Bank, signaling a negative outlook on the bank’s future performance. This suggests a belief that TD Bank’s stock may not fare well compared to the overall market. The assigned target price of CAD 70 serves as a cautionary level, indicating that, according to STA Research, investors should reconsider holding or acquiring TD Bank shares at the current valuation.

Canaccord Genuity:

  • Rating: Buy
  • Target Price: CAD 94
  • Action: Canaccord Genuity reaffirms its Buy rating on TD Bank, expressing continued confidence in the bank’s long-term potential. However, there is an adjustment in the target price, which is now CAD 94. While this still implies an optimistic valuation for TD Bank’s stock, the reduction from a previous level suggests a more conservative estimate of the bank’s potential growth. Investors are encouraged to maintain a positive outlook but with a slightly tempered expectation regarding TD Bank’s future performance.

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