TD Upgraded as Jefferies Names Canadian Lender as Top Pick for 2025
- Bank’s challenges are ‘not insurmountable,’ analyst says
- Incoming CEO Raymond Chun will give bank a ‘clean slate’
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The path ahead for Toronto-Dominion Bank is rocky, but analysts at Jefferies Financial Group Inc. are predicting a recovery in the stock’s valuation as they turn bullish on the outlook for the Canadian lender and name it a top pick for 2025.
Analysts led by John Aiken upgraded Canada’s second-largest bank to buy from hold and raised their price target on the stock to C$90. While Aiken doesn’t see a rebound in valuation happening in the near term, he expects it to improve as 2025 progresses.