Toronto-Dominion Bank (TD) Stock Forecast & Price Target

$63.44

+0.13 (+0.21%)

(As of 03:15 PM ET)

Toronto-Dominion Bank - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold

Based on 9 Analyst Ratings

Sell
0

Hold
7

Buy
2

Based on 9 Wall Street analysts who have issued ratings for Toronto-Dominion Bank in the last 12 months, the stock has a consensus rating of "Hold." Out of the 9 analysts, 7 have given a hold rating, 1 has given a buy rating, and 1 has given a strong buy rating for TD.

Consensus Price Target

$84.00
32.43% Upside

According to the 9 analysts' twelve-month price targets for Toronto-Dominion Bank, the average price target is $84.00. The highest price target for TD is $84.00, while the lowest price target for TD is $84.00. The average price target represents a forecasted upside of 32.43% from the current price of $63.44.

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TD Analyst Ratings Over Time

Type	Current Forecast 9/28/23 to 9/27/24	1 Month Ago 8/29/23 to 8/28/24	3 Months Ago 6/30/23 to 6/29/24	1 Year Ago 9/28/22 to 9/28/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	1 Buy rating(s)	1 Buy rating(s)	3 Buy rating(s)	5 Buy rating(s)
Hold	7 Hold rating(s)	7 Hold rating(s)	5 Hold rating(s)	1 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	1 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$84.00	$84.00	$88.00	$89.33
Forecasted Upside	32.43% Upside	41.37% Upside	60.12% Upside	47.07% Upside
Consensus Rating	Hold	Hold	Hold	Moderate Buy

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TD Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

TD Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Toronto-Dominion Bank Stock vs. The Competition

Type	Toronto-Dominion Bank	Finance Companies	S&P 500
Consensus Rating Score	2.33	2.46	2.50
Consensus Rating	Hold	Hold	Hold
Predicted Upside	31.91% Upside	12.21% Upside	5.87% Upside
News Sentiment Rating	Positive News See Recent TD News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
8/22/2024	National Bank Financial 5 of 5 stars	G. Dechaine Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Underperform ➝ Sector Perform
7/2/2024	UBS Group 4 of 5 stars	J. Shea Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Neutral
5/24/2024	Cibc World Mkts 0 of 5 stars	P. Holden Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
5/24/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Market Perform ➝ Market Perform	$86.00 ➝ $84.00	+48.07%
4/17/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Sector Perform ➝ Sector Outperform
3/20/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Equal Weight
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2/22/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Hold
12/18/2023	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Neutral
11/22/2023	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Sector Outperform ➝ Neutral
8/25/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$93.00 ➝ $92.00	+56.14%
8/25/2023	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$96.00 ➝ $94.00	+62.21%
2/7/2023	Desjardins Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$105.00 ➝ C$106.00
12/5/2022	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Scott Chan Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Buy	C$95.00 ➝ C$103.00

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Friday at 03:30 PM ET.

Should I Buy Toronto-Dominion Bank Stock? TD Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Monday, September 23, 2024. Please send any questions or comments about these Toronto-Dominion Bank pros and cons to contact@marketbeat.com.

Toronto-Dominion Bank
Bull Case

Here are some ways that investors could benefit from investing in The Toronto-Dominion Bank:

The Toronto-Dominion Bank has consistently shown strong quarterly earnings results, beating analysts' consensus estimates, indicating financial stability and growth potential.
The current dividend yield of 4.59% offers investors a steady income stream, providing a reliable source of passive income.
With a 1-year high of $65.12, The Toronto-Dominion Bank's stock price has shown resilience and potential for capital appreciation.
Research analysts have upgraded the bank's rating, with some even giving a "strong-buy" recommendation, reflecting positive sentiment and growth prospects.
The Toronto-Dominion Bank's revenue growth of 9.8% compared to the same quarter last year demonstrates the company's ability to increase its market share and profitability.

Toronto-Dominion Bank
Bear Case

Investors should be bearish about investing in The Toronto-Dominion Bank for these reasons:

Despite revenue growth, the bank's dividend payout ratio of 67.73% may indicate limited room for further dividend increases or reinvestment in the business.
Some analysts have issued a "sell" rating on The Toronto-Dominion Bank, suggesting potential risks or challenges that could impact the stock performance negatively.
The stock's 50-day moving average price of $59.07 is below the 200-day moving average price of $57.86, potentially signaling a short-term bearish trend.
Market analysts have reduced the target price for The Toronto-Dominion Bank, indicating a cautious outlook on the stock's future performance.
Investors should consider the bank's debt-to-equity ratio of 0.10, as higher debt levels can increase financial risk and impact profitability during economic downturns.

TD Forecast - Frequently Asked Questions

: According to the research reports of 9 Wall Street equities research analysts, the average twelve-month stock price forecast for Toronto-Dominion Bank is $84.00, with a high forecast of $84.00 and a low forecast of $84.00.
: 9 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Toronto-Dominion Bank in the last twelve months. There are currently 7 hold ratings, 1 buy rating and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" TD shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in TD, but not buy additional shares or sell existing shares.
: According to analysts, Toronto-Dominion Bank's stock has a predicted upside of 32.41% based on their 12-month stock forecasts.
: Over the previous 90 days, Toronto-Dominion Bank's stock had 1 upgrade by analysts.
: Toronto-Dominion Bank has been rated by research analysts at National Bank Financial, and UBS Group in the past 90 days.
: Analysts like Toronto-Dominion Bank less than other "finance" companies. The consensus rating score for Toronto-Dominion Bank is 2.33 while the average consensus rating score for "finance" companies is 2.46. Learn more on how TD compares to other companies.