Barclays analyst Brian Morton lowered the firm’s price target on TD Bank to C$80 from C$90 and keeps an Equal Weight rating on the shares after the company announced the resolution of anti-money laundering investigations related to its U.S. banking segment with several regulators. The firm says the final act entails an asset cap.
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Read More on TD:
- TD Bank Resolves AML Issues, Commits to Overhaul
- TD confirms $3.09B settlement of anti-money laundering investigations
- Treasury announces $1.3B penalty on TD Bank
- Office of the Comptroller says may require TD Bank to reduce assets by 7%
- Office of the Comptroller fines TD Bank $450M, issues cease and desist order