Q: What do you think of the recent news from TD? I currently have a small position. Ok to add more?
5i Research Answer:
TD is speeding up its CEO transistion, and cutting pay for 40 senior executives. The market likes the news, and the stock rose 6% last week and is up nearly 9% YTD. As indicated in prior answers, the worst is 'probably' over for TD, at least in terms of its money laundering fiasco. Generally, when the worst is over stocks start working their way higher. At 10X earnings with a 5.05% yield, we would be comfortable buying some.