New to Banking? Here's Why I Would Buy Toronto-Dominion Bank Stock First.
Banks have had a tough year so far in 2023, with the SPDR S Bank ETF (NYSEMKT: KBE) down more than 20% versus a roughly 7% gain for the broader S 500 index. Even if you've never bought shares of a bank stock before, that might have you thinking about making a contrarian investment in the sector. You should probably err on the side of caution and opt for a bank like Toronto-Dominion Bank (NYSE: TD). Here are some important reasons why.
Toronto-Dominion hails from Canada, where it is one of the largest banks in the country. That provides a solid foundation for the business. It also has a significant presence in the U. S., where its business is concentrated on the East Coast. Basically, in the U.S. market, it is a large regional bank. Given its footprint, there's room for growth as it expands its geographic reach.
Image source: Getty Images.
Source Fool.com
Toronto-Dominion Bank Aktie
Keine klare Meinung bei der Toronto-Dominion Bank Aktie: 3 Buy-Einschätzungen stehen 2 Sell-Einschätzungen gegenüber.
Ein Kursziel von 86 € für Toronto-Dominion Bank würde eine Steigerung von mehr als 50% gegenüber dem aktuellen Kurs von 51.17 € bedeuten.
