TD Bank price target raised to C$86 from C$83 at BMO Capital

BMO Capital analyst Sohrab Movahedi raised the firm’s price target on TD Bank to C$86 from C$83 but keeps a Market Perform rating on the shares after its Q4 results. The bank’s EPS of $1.83 was lower than consensus estimates and driven by U.S. Retail with higher provision for credit losses and Wholesale Banking, though Capital ratios were strong at 14.4%, the analyst tells investors in a research note. Rate uncertainty and fee revenue risks in U.S. retail remain headwinds in the near term, the firm adds.