0834 ET - Toronto-Dominion Bank outperformed expectations despite being in a transition year. Raymond James' Stephen Boland says in a report that TD reported a solid 4Q, with adjusted EPS of C$2.18 ahead of Raymond James' estimates of C$1.99 and consensus at C$2.01, thanks to strength in fee-based revenue and volume growth across the Canadian personal and commercial business. "Despite 2025 being positioned as a 'transition' year, TD ultimately outperformed both internal and investor expectations," Boland says. The bank navigated the introduction of the U.S. asset cap effectively and capitalized on its weaker share price in 1H by launching an aggressive buyback program, repurchasing roughly C$6 billion of stock in FY25. Raymond James upgraded its price target by C$3 to C$122. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
December 05, 2025 08:34 ET (13:34 GMT)
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