<div id="readability-page-1"><p>01:15 PM EST, 12/04/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:</p><p>We increase our 12-month target price by USD40 to USD95, 14.7x our FY 26 (Oct.) EPS view of CAD9.04 (USD6.48), above the peer average P/E of 13.0x, as superior credit quality and improving efficiency outweigh headwinds stemming from the asset cap on TD's two U.S. banking subsidiaries. We increase our FY 26 EPS estimate to CAD9.04 from CAD8.64 and start FY 27's at CAD9.64. Our upgraded outlook reflects TD's strong credit management, which has kept loan losses steady despite Canada's economic slowdown. While the U.S. asset cap will likely be a headwind for years, new CEO Raymond Chun has impressed with his efforts to fix compliance problems and streamline operations. With U.S. assets now at USD382 billion (well below the USD434 billion cap), TD has the capacity to resume loan growth. The bank is also improving efficiency: its adjusted efficiency ratio improved 250 basis points year-over-year to 59.2% in Q4, marking the first quarterly improvement in over a year, though it still lags peers.</p> <p>MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</p></div>

<p>CFRA 将多伦多道明银行的股票评级从 “卖出” 上调至 “持有”，将 12 个月目标价提高至 95 美元，原因是其信用质量优越和效率改善。尽管面临美国资产上限的挑战，但道明银行强大的信用管理和新任首席执行官在合规和运营方面的努力都是积极的。2026 财年的每股收益预估提高至 9.04 加元，2027 财年起始为 9.64 加元。道明银行的效率比率有所改善，显示出恢复贷款增长的潜力</p>

研究警报：CFRA 将 Toronto Dominion Bank 的股票评级从卖出上调至持有