TD Bank price target lowered to C$81 from C$86 at BMO Capital

BMO Capital lowered the firm’s price target on TD Bank to C$81 from C$86 and keeps a Market Perform rating on the shares after its Q1 results. The bank’s Canadian and U.S. P&C Banking did better, but Wholesale was lower, the analyst tells investors in a research note. TD Bank is well-capitalized with about 55% of its revenues seen as spread based, though the rate uncertainty and fee revenue risks in U.S. retail remain headwinds in the near term, the firm added.