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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (130115)8/9/2022 4:26:02 PM
From: Goose94Read Replies (1) of 202180
 
Toronto-Dominion Bank (TD-T) top pick from David Baskin on BNN.ca Market Call Tuesday Aug 9th @ 1200ET

We think Canadian bank stocks are attractive despite fears of a housing slowdown and a recession. Canadian banks have been very prudent in underwriting mortgages over the last decade with low LTVs in the 50s and large insured portfolios. Consumer balance sheets and employment figures remain strong, which should provide a buffer in a downturn. Furthermore over half of TD’s assets are actually in the U.S., which in our view has fewer housing-related risks. With shares at 9x earnings and 1.5x book value, we think shares are attractive.
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