Toronto-Dominion Bank Q2 2026 Earnings Call Transcript - Toronto-Dominion Bank (NYSE:TD)

Altius Minerals (TSX:ALS) increased its effective ownership of Great Bay Renewables (GBR) to 50% via a US$168 million ($239.05 million) transaction announced July 10, 2026. Apollo-managed funds exited GBR after selling to Northampton for about US$390 million. Altius will report 50% of GBR revenue and expenses from Q3 2026, and raised its credit facility to C$225 million–350 million, extending maturity to July 2030.

Stablecorp Digital Currencies said TD Bank Group will serve as primary reserve custodian for QCAD, a Canadian-dollar stablecoin issued by QCAD Digital Trust. TD will hold fiat reserves in segregated accounts under a phased rollout expected in Q3 and Q4 2026. QCAD is 1:1 backed by CAD and was listed on Kraken in April.

Toronto-Dominion Bank (TD) shares fell 5.55% to C$66.00 after CBC reported unnamed and then hundreds of current and former TD employees alleged they were pressured to sign up customers for unnecessary products and to break laws to meet sales targets. TD denied wrongdoing, citing its ethics code and whistleblower hotline. Analysts said an investigation could take months; DBRS said it expects no rating change but will monitor.

RBC Capital Markets raised its gold forecasts, citing new highs in 2026: $4,600/oz (+17%), $5,100/oz for 2027 (+24%) and long-term $3,000/oz (+15%). It also lifted silver and copper assumptions and adjusted stock targets. SSR Mining was upgraded to “outperform” with a $40 target. Desjardins shifted Canadian banks to “market weight,” raising TD and RBC targets.

Barclays raised its price target on Toronto-Dominion Bank (TD) to C$140 from C$135 and kept an Underweight rating after TD reported fiscal Q2 2026 results ended April 30. Barclays’ update followed TD’s reported diluted EPS of $2.43 (vs. $6.27 prior year) and adjusted diluted EPS of $2.38. CIBC also raised its target to C$164 from C$151, maintaining Neutral.

The article highlights 12 “undervalued” financial stocks, arguing the sector’s uneven performance amid credit, rates, and growth concerns has created valuation gaps. It cites Fidelity, T. Rowe Price, and J.P. Morgan Asset Management views on value outperformance and capital markets activity. For Royal Bank of Canada, BofA raised its target to C$273 (Buy) and Raymond James cut to Market Perform (C$265.50). For TD, BofA lifted to C$168 (Buy) and Raymond James upgraded to Outperform (C$152.50).