Barclays Maintains an 'Overweight' on TD Bank Financial (TD); An In-Line Quarter but Margin Compression Impacts Valuation

Barclays maintains an 'Overweight' on TD Bank Financial (NYSE: TD), PT C$89.

Barclays analyst says, "Although TD's earnings represented only a modest miss against expectations, it was rewarded with the second greatest valuation decline on Thursday. The market appears to be more concerned with the spread compression occurring in retail banking on both sides of the border and focusing less on the growth in lending volumes. Despite the perceived weakness in the quarter, we continue to believe that TD warrants a higher premium to the average of the group and continued growth in its retail platforms should, eventually, accord relative multiple expansion."

For more ratings news on TD Bank Financial click here and for the rating history of TD Bank Financial click here.

Shares of TD Bank Financial closed at $85.78 yesterday.

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