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.
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Source Fool.com
Toronto-Dominion Bank Stock
With 3 Buy predictions and 2 Sell predictions the community is currently undecided on Toronto-Dominion Bank.
With a target price of 86 € there is a hugely positive potential of 68.83% for Toronto-Dominion Bank compared to the current price of 50.94 €.
