RBC Capital analyst Darko Mihelic upgraded TD Bank (TD) to Outperform from Sector Perform with a price target of C$120, up from C$93. TD’s increased focus on capital return and efficiency is a significant shift and its updated strategy its viewed favorably, the analyst tells investors in a research note. The bank is still subject to an asset cap in the U.S. and AML risks may linger longer than expected and furthermore execution is not guaranteed, the firm says.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TD:
- TD Bank upgraded to Outperform from Sector Perform at RBC Capital
- TD Bank price target raised to C$100 from C$97 at Barclays
- TD Bank price target raised to C$116 from C$110 at Desjardins
- TD Bank price target raised to C$119 from C$113 at Canaccord
- TD Bank price target raised to C$107 from C$102 at BMO Capital