This TSX stock may rise highest among TD's initial top picks for 2026

Group 1 - Canadian banks have experienced significant share growth, with the S&P/TSX composite index's bank index rising 32% year to date compared to 27% for the overall index [1] - Analysts expect another solid quarter for the large Canadian banks, with capital markets units anticipated to generate more gains and a healthy amount of share repurchases [1] - Provisions for credit losses (PCLs) are a concern, particularly for Royal Bank of Canada and Bank of Montreal in the commercial sector [1] Group 2 - Scotia Capital Markets analysts are most optimistic about Canadian Imperial Bank of Commerce, raising their price target to $123, with shares trading around $120 [1] - The price target for National Bank of Canada has been increased to $166, driven by expected gains from the acquisition of Canadian Western Bank, with shares trading at $169 [1]