CIBC Upgrades TD Bank(TD:NYE) to Overweight rating and C$80 target on loan growth resumption

STA Research
by: STA Research

CIBC analyst’s Paul Holden upgraded TD Bank to Outperform from Neutral and raised the target to  C$80 from C$78.

The analyst upgraded the stock on the vaccine news and Biden’s fiscal policy that will reinvigorate loan growth much sooner than previous forecasts.

STA Research has a average target of $85.88 on the stock and a consensus Hold rating.  The technical indicator is slightly bearish.

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