The Globe and Mail reports in its Friday, Oct. 11, edition that RBC Dominion Securities analyst Darko Mihelic has lowered his recommendation for Toronto-Dominion Bank to "sector perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Mihelic gave his share target a $6 trim to $82. Analysts on average target the shares at $84.78. Mr. Mihelic made the changes in response to Thursday's announcement it has pleaded guilty to conspiracy to commit money laundering, leading to significant penalties from U.S. regulators and law enforcement which the equity analyst called "the worst-case scenario." Mr. Mihelic says, "It will be difficult for TD to outperform its peers over the medium term, as it has limited strategic flexibility, lower earnings/dividend growth and significant cultural change coming." The Globe reported on Sept. 6 that Desjardins Securities analyst Doug Young continued to rate Toronto-Dominion Bank "buy" with a $90 share target. The shares could then be had for $81.77.