Toronto-Dominion Bank (TSX:TD) Valuation Check As Analyst Upgrades Highlight Improving Earnings Outlook

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Toronto-Dominion Bank (TSX:TD) is receiving renewed investor attention following upgrades from Zacks and Scotiabank, signaling an improved earnings outlook and business performance. Despite a recent rally with a 75.83% one-year return, the stock trades slightly above average analyst price targets reflecting a 6% overvaluation against a fair value of CA$140.43, yet still appears to be at an estimated 22% discount to its intrinsic value. The market is pricing TD cautiously compared to peers, with a P/E of 11.7x against an industry average of 16.4x.

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