RE:TD will Recover to $87 over the next little while 💰 💰This is Brendan Caldwell from Friday, on BNN re TD Bank.
Given the US$3 billion fine Has mixed thoughts. It's his favourite Canadian bank stock. The market had expected a $3 billion fine, but the 10% plunge in share price the last two days is reacting to TD not allowed to grow its core banking business in the US. Wells Fargo was hit with a similar fine and those shares have done little for 5 years. TD will probably recover back to $87 over the next little while. It will bounce, but will underperform several years compared to Canadian peers.