Barclays Maintains an 'Overweight' on TD Ameritrade (AMTD); Slightly Better Core Quarter, Renewed Environmental Challenges are Manageable

Barclays maintains an 'Overweight' on TD Ameritrade (NASDAQ: AMTD) price target of $23.00.

Barclays analyst says, 'We believe AMTD shares are relatively attractive at current levels. With a stronger long-term growth profile when compared to its closest peers, we believe AMTD shares have rightfully closed the valuation multiple gap vs. Charles Schwab (Nasdaq: SCHW) and may begin to deserve a slightly premium multiple, driven by the more robust organic growth rate...We are lowering our fy2011 EPS estimate from $1.12 to $1.09 and maintaining our
fy2012 EPS estimate of $1.33. We continue to have no interest rate hike benefits built into our estimates for next fiscal year."

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

Shares of TD Ameritrade closed at $19.47 yesterday.

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