TD Bank's U.S. Franchise is on a Roll

Dow Jones
08/29

1348 ET - Toronto-Dominion Bank's solid 2Q results show signs its U.S. franchise is gaining momentum, Keefe, Bruyette & Woods' David Konrad says. TD returned to loan growth in the U.S. during fiscal 3Q, and the bank expects this will continue driven by large corporate and commercial clients. TD also plans to open 100 new U.S. branches by the end of 2028. KBW maintains a market perform call on the shares, but bumps up its target to C$187 from C$180. The stock is currently up 0.3% at C$168.26, and 30% higher year-to-date.

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