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Why Toronto Dominion Bank (TD) Could Be Positioned for a Surge?


The Toronto Dominion Bank TD, which provides various personal and commercial banking products and services, could be an interesting play for investors. That is because not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on TD’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that The Toronto Dominion Bank could be a solid choice for investors.

Current Quarter Estimates for TD

In the past 30 days, three estimates have gone higher for The Toronto Dominion Bankwhile none have gone lower in the same time period. The trend has been pretty favorable as well, with estimates increasing from 97 cents a share 30 days ago, to $1.12 per share today, a move of 15.5%.

Current Year Estimates for TD

Meanwhile, The Toronto Dominion Bank’s current year figures are also looking quite promising, with four estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $4.08 per share 30 days ago to $4.46 per share today, an increase of 9.3%.

Bottom Line

The stock has also started to move higher lately, adding 8.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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