Blue Jays Fans: Buy TD?

The stock is currently fairly valued.

Ruth Saldanha 30 June, 2021 | 8:09AM
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Ruth Saldanha: The Toronto Blue Jays are Toronto's baseball team and the best team in the world.

Andrew Willis: I'm a Blue Jays fan, and they're going to go all the way to the World Series, just like they did in '92 and '93.

Saldanha: Well, you're clearly invested in this, and I hope the Blue Jays win. I really, really hope. But do you think you could invest in the team another way? Maybe you could buy TD Bank. one of their main sponsors. And if you did, would you be a champion?

The Toronto-Dominion Bank is one of the largest banks in Canada. It's fairly valued and has a wide economic moat.

Eric Compton: For Toronto-Dominion, we like their exposure to the U.S. They have one of the larger U.S. franchises under our Canadian coverage. We think that will matter going forward help driving earnings growth from the recovery. They are also one of the more rate sensitive banks under Canadian coverage, which again we think will drive future earnings growth. And we also like their unique exposure to this surge in individual investor interest in just investing through TD Ameritrade. So, we like how the bank is positioned. We see strong earnings growth going forward. And right now, among the Canadian banks, we think they look about fairly priced.

Saldanha: If you want to invest in the Blue Jays via TD, wait for a dip before you buy and then you might end up a champion, too.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
The Toronto-Dominion Bank68.93 USD2.09Rating
The Toronto-Dominion Bank88.47 CAD1.54Rating

About Author

Ruth Saldanha

Ruth Saldanha  is Senior Editor at Morningstar.ca. Follow her on Twitter @KarishmaRuth.

 
 
 

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