The Globe and Mail reports in its Friday, May 3, edition that National Bank Financial analyst Gabriel Dechaine has reaffirmed his "sector perform" recommendation for Toronto-Dominion Bank. The Globe's David Leeder writes in the Eye On Equities column that Mr. Dechaine slashed his share target back by $8 to $84. Analysts on average target the shares at $88.74. Mr. Dechaine says in a note: "TD has been one of the most topical names in our coverage over the past few years. Lately, the tone of investors has become more positive. We believe investors have been attracted to TD's valuation, which currently sits at a 6-per-cent discount to peers, which is in stark contrast to its historical valuation premium of 4 per cent. However, given details of TD's alleged involvement in money laundering activities outlined in a Wall Street Journal article, we believe investors need to put greater weight on worst-case scenarios for the stock." The Globe reported on April 18 that Scotia Capital analyst Meny Grauman had boosted his recommendation for Toronto-Dominion Bank to "sector outperform" from "sector perform." The shares were then going for $78.28.