TD Bank downgraded to Underweight from Equal Weight at Barclays

Barclays analyst Brian Morton downgraded TD Bank (TD) to Underweight from Equal Weight with a price target of C$79, down from C$80. The firm says Canadian bank earnings in Q4 should see seasonal headwinds, and the impact from lower rates though asset management should help fee revenue. It is changing ratings in the group ahead of the earnings reports. The analyst also looks for the banks’ initial takes on 2025.