1 Magnificent High-Yield Stock Down 33% to Buy and Hold Forever
The narrative around Toronto-Dominion Bank (NYSE: TD) isn't great today, thanks to concerns from the market about reports of shortfalls in the company's money-laundering controls. It is a big deal in the near term, but it is not going to alter the Canadian banking giant's long-term trajectory.
Here's why this bad short-term news that led to a 33% decline in TD Bank's share price could create a great buying opportunity for long-term income investors.
TD Bank had a deal lined up to buy a regional U.S. bank, a move that would have expanded its reach in the country. As a giant in the highly protected Canadian market, growth has largely come from TD Bank's U.S. arm. It seemed like a slam dunk, but, somewhat strangely, it seemed to attract extra attention from regulators. Eventually, the deal was called off.
Source Fool.com
Toronto-Dominion Bank Stock
Our community is currently high on Toronto-Dominion Bank with 3 Buy predictions and 1 Sell predictions.
As a result the target price of 86 € shows a very positive potential of 61.62% compared to the current price of 53.21 € for Toronto-Dominion Bank.
