Recommendation + More BNNObviously I meant "last one" of the morning. GLTA
Sell-off in TD shares is overdone: Gabriel Dechaine
Gabriel Dechaine, managing director of Canadian Banks and Insurance at National Bank, joins BNN Bloomberg to talk about TD's underperformance. He says TD's stake in Charles Schwab and uncertainty around the First Horizon acquisition is attributing to the weakness in the stock.
https://www.bnnbloomberg.ca/video/sell-off-in-td-shares-is-overdone-gabriel-dechaine~2662881
BUY
Toronto Dominion (TD)(TD-T)
06/04/2023
He's inclined to start looking at banks, and TD is at the top of the list. They have to deal with the First Horizon issue, as that stock has collapsed with the US regionals. Taken a hit on SCHW, too, and it impacts their capital ratios. Valuation has come down, good US footprint, short-term risk with the acquisition. Might be calmer in a couple of weeks, and that might be a bottom.
Banks
John Zechner
$79.370
Unknown