The Globe and Mail reports in its Friday, Dec. 5, edition that Scotia Capital analyst Mike Rizvanovic is sticking with his "sector perform" recommendation for Toronto-Dominion Bank. The Globe's David Leeder writes that Mr. Rizvanovic bumped his share target ahead by $11 to $125. Analysts on average target the shares at $120.36. Mr. Rizvanovic says in a note: "TD's solid Q4 results featured much better-than-expected top-line growth in both lending and market-sensitive businesses that drove a sizable 6-per-cent beat on PTPP earnings relative to our forecasts, while credit performance was cleaner than what we ve seen from the banks peers in the quarter with F2026 guidance suggesting a similar loss ratio that is very manageable in the context of the bank s earnings power. Our F2026 EPS estimate rises by 2 per cent to $9.10, while for F2027 we are now at $10.15 (up 7 per cent), reflecting strong momentum in the bank's Canadian wealth management and wholesale banking units, as well as an improved outlook in U.S. retail. Our forecasts imply 9-per-cent EPS growth in F2026, which is a touch higher than management's guidance of 6 to 8 per cent, followed by 12-per-cent growth in F2027 helped by a bit more share repurchases."
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