TD Bank initiated with an Equal Weight at Barclays

Barclays initiated coverage of TD Bank with an Equal Weight rating and C$90 price target. The analyst launched coverage on Canada and Latin America Banks with a Positive industry view. The firm prefers Mexico over Canada given current trends in net interest margin, economy, deposits, loans, returns, credit quality, capital, earnings and valuation. Exposure to residential mortgage loans is an additional concern in Canada, the analyst tells investors in a research note.