NEW YORK (TheStreet) -- Toronto-Dominion Bank's (TD) price target was lowered to $57 from $60 at BMO Capital this morning. BMO raised its 2015 earnings estimates on TD to $4.55 from $4.50 per share. The firm's rating remains unchanged at "outperform."

On Thursday, the bank reported fiscal 2015 third quarter earnings results that were above expectations, due to high profits in retail and wholesale banking, according to The Wall Street Journal.

Wholesale banking in the third quarter saw earnings of $239 million, up 11% year over year. Canadian retail earnings were $1.56 billion, up 8% year over year. U.S. retail earnings were $450 million, flat to last year as it reflected the hyper-competitive environment, BMO said.

BMO expects restructuring charges in the next quarter due to efficiency improvement initiatives, but it will "contain the overall pace of expense group."

Shares of TD were down 0.63% to $39.56 in mid-morning trading on Friday.

Separately, TheStreet Ratings team rates TORONTO DOMINION BANK as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate TORONTO DOMINION BANK (TD) a HOLD. The primary factors that have impacted our rating are mixed – some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, disappointing return on equity and a generally disappointing performance in the stock itself."

You can view the full analysis from the report here: TD Ratings Report

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