TD Securities Believes T.D. Bank (TSX: TD) Won’t Stop Here

By Carrie Williams

T.D. Bank (TSX: TD), the Financial sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. Analyst Mario Mendonca from TD Securities rated T.D. Bank (TSX: TD) a Buy, setting a C$80 price target.

According to TipRanks.com, Mendonca is a 4-star analyst with an average return of 10.9% and a 93.8% success rate. Mendonca covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and Royal Bank Of Canada.

T.D. Bank has an analyst consensus of Moderate Buy, with a price target consensus of C$75.

Based on T.D. Bank’s latest earnings report for the quarter ending July 31, the company posted quarterly revenue of C$11.65 billion and quarterly net profit of C$2.74 billion. In comparison, last year the company earned revenue of C$10.55 billion and had a net profit of C$2.27 billion.

The Toronto-Dominion Bank engages in providing financial products and services. The bank operates through the following business segments: Canadian Retail, U.S. Retail and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.

The company’s shares closed on Monday at C$72.81, close to its 52-week high of C$73.69.