TD Stock Soars 1.13% on U.S. AI Expansion

Mover TrackerWednesday, Apr 23, 2025 6:35 pm ET

1min read

TD0.00%

Today, The Toronto-Dominion Bank (TD) saw its share price rise to its highest level since October 2024, with an intraday gain of 1.13%.

TD is expanding its presence in the U.S. with a new AI research and development office in New York City. This strategic move aims to enhance customer experience and operational efficiency through advanced technology, contributing to the bank's growth and efficiency.

Analysts have expressed optimism about TD's stock, with an average price target of $66.69, indicating a potential 7.82% increase from its current trading price. This positive outlook is supported by a consensus recommendation of "Outperform" from 12 brokerage firms, reflecting confidence in the bank's future performance.

Additionally, TD has initiated an $8 billion share buyback program, signaling a strong financial position and potentially boosting investor confidence. This program is expected to further support the bank's stock price by reducing the number of shares outstanding and increasing earnings per share.

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