<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 將多倫多道明銀行的股票評級從 “賣出” 上調至 “持有”，將 12 個月目標價提高至 95 美元，原因是其信用質量優越和效率改善。儘管面臨美國資產上限的挑戰，但道明銀行強大的信用管理和新任首席執行官在合規和運營方面的努力都是積極的。2026 財年的每股收益預估提高至 9.04 加元，2027 財年起始為 9.64 加元。道明銀行的效率比率有所改善，顯示出恢復貸款增長的潛力</p>

研究警報：CFRA 將 Toronto Dominion Bank 的股票評級從賣出上調至持有