RY 164.07 0.6379% SHOP 127.42 7.5456% TD 86.07 0.5491% ENB 63.02 -0.1426% BN 71.19 2.8906% TRI 250.82 -0.4129% CNQ 40.5 -0.0494% CP 101.37 0.6454% CNR 135.8 0.6597% BMO 131.37 0.9917% BNS 67.21 0.8856% CSU 4808.0 3.5285% CM 83.6 1.1617% MFC 41.65 3.1196% ATD 73.46 0.232% NGT 74.0 -1.7786% TRP 67.57 -0.3098% SU 48.57 -0.7966% WCN 270.7 -0.9767% L 216.4 0.0647%
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Section1: Company Overview
Toronto-Dominion Bank (TSX: TD) is one of Canada's two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank's U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab. This Report covers the Investment Highlights, Key Financial Metrics, Risks, Technical Analysis and Recommendation on the stock.
1.1 The Key Positives, Negatives, Investment Highlights, and Risks
Section2: Financial Highlights
2.1 Key Financial Highlights
Section 3: Stock Recommendation Summary
3.1 Valuation Methodology
Valuation Methodology (Illustrative): Price to Book Value based relative valuation
3.2 Price Performance and Stock Recommendation
The stock has witnessed a downside of ~5.22% and an upside of ~0.35% over the last 1 month and 3 months respectively. Moreover, the stock is trading below the average 52-week high price of CAD 94.05 and 52-week low price of CAD 75.89 providing an opportunity to accumulate the stock. Toronto-Dominion Bank (TSX: TD) was last covered in a report dated ‘28th November 2023’.
3.3 One-Year Technical Price Chart
One-Year Technical Price Chart (as of January 18, 2024). Source: REFINITIV, Analysis: Kalkine Group
3.4 Technical Summary
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on January 18, 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Dividend Yield may vary as per the stock price movement.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and the uptrend may take a pause due to profit booking or selling interest.
Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.
The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.
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