| Thursday | ||||
The Toronto-Dominion Bank… The Toronto-Dominion Bank (TD) and Wells Fargo & Company (WFC) announced a definitive agreement, subject to certain closing conditions, for TD to acquire Wells Fargo's Canadian Direct Equipment Finance business. With approximately C$1.5B in assets and over 120 employees, Wells Fargo's Canadian Direct Equipment Finance business provides loans and leases covering a full range of commercial equipment for businesses across Canada. TD's purchase of Wells Fargo Canadian Direct Equipment Finance business is expected to close in the first half of 2021, subject to receipt of regulatory and Competition Act approvals and clearance, and satisfaction of other customary closing conditions. | ||||
| Monday | ||||
National Bank analyst… National Bank analyst Gabriel Dechaine raised the firm's price target on Toronto-Dominion to C$75 from C$73 and keeps a Sector Perform rating on the shares. | ||||
| Over a month ago | ||||
As previously reported,… As previously reported, Wells Fargo analyst Blaine Heck downgraded Paramount Group (PGRE) to Underweight from Overweight with a price target of $9, down from $12. The analyst views a take-out as unlikely in the near-term and notes that Paramount Group has "significant" near-term NOI headwinds in the form of the Barclays (BCS) and TD Bank (TD) move-outs. While the company's management has previously done an outstanding job backfilling previous move-outs, Heck believes the Barclays/TD Bank move-outs couldn't come at a worse time. He doesn't expect a meaningful amount of this space to be re-leased in the near-term and sees cash revenue recognition before 2023 as unlikely. | ||||
Canaccord analyst Scott… Canaccord analyst Scott Chan raised the firm's price target on Toronto-Dominion to C$76 from C$70.50 and keeps a Hold rating on the shares. | ||||
CIBC analyst Paul Holden… CIBC analyst Paul Holden raised the firm's price target on Toronto-Dominion to C$84 from C$80 and keeps an Outperformer rating on the shares. | ||||
RBC Capital analyst Darko… RBC Capital analyst Darko Mihelic raised the firm's price target on Toronto-Dominion to C$79 from C$69 and keeps a Sector Perform rating on the shares. | |
Scotiabank analyst Sumit… Scotiabank analyst Sumit Malhotra raised the firm's price target on Toronto-Dominion to C$80 from C$77 and keeps a Sector Perform rating on the shares. | |
RBC Capital analyst Darko… RBC Capital analyst Darko Mihelic raised the firm's price target on Toronto-Dominion to C$79 from C$69 and keeps a Sector Perform rating on the shares. The company's recent results were "solid", and its earnings should continue to rebound in 2021 and beyond, the analyst tells investors in a research note. Mihelic warns however that the headwinds around net interest margins, risks to fees, and possibly taxes create "just enough uncertainty" to cap some of the upside in Toronto-Dominion shares. | |
National Bank analyst… National Bank analyst Gabriel Dechaine downgraded Toronto-Dominion to Sector Perform from Outperform with a price target of C$73, up from C$71. | |