Barclays Maintains an 'Overweight' on Toronto-Dominion Bank (TD); Still Favorite Name in Group
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Price: $124.36 +1.02%
Rating Summary:
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Rating Summary:
3 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Overweight' on Toronto-Dominion Bank (NYSE: TD) price target of $88.00.
Analyst, John Aiken, said, "TD's domestic earnings were not as strong as some of the others reported on Thursday, nor did the essentially flat U.S. retail earnings over the past three quarters do much to inspire investor enthusiasm. However, we note that its underlying U.S. loan growth remains very strong and will be the main catalyst for future earnings growth, likely continuing to outpace that domestically for both TD and its peers. While margins may continue to gyrate, we believe that the outlook for TD's growth potential remains positive."
Aiken said TD still remains a favorite name in the group, with continued strong loan growth profile and expected dividend growth. Lingering questions are earnings quality will remain, but relative valuation supersedes the prior concerns.
FY12 EPS estimate lowered from $7.48 to $7.47, but FY13 from $7.94 to $8.02.
For an analyst ratings summary and ratings history on Toronto-Dominion Bank click here. For more ratings news on Toronto-Dominion Bank click here.
Shares of Toronto-Dominion Bank closed at $81.29 yesterday.
Analyst, John Aiken, said, "TD's domestic earnings were not as strong as some of the others reported on Thursday, nor did the essentially flat U.S. retail earnings over the past three quarters do much to inspire investor enthusiasm. However, we note that its underlying U.S. loan growth remains very strong and will be the main catalyst for future earnings growth, likely continuing to outpace that domestically for both TD and its peers. While margins may continue to gyrate, we believe that the outlook for TD's growth potential remains positive."
Aiken said TD still remains a favorite name in the group, with continued strong loan growth profile and expected dividend growth. Lingering questions are earnings quality will remain, but relative valuation supersedes the prior concerns.
FY12 EPS estimate lowered from $7.48 to $7.47, but FY13 from $7.94 to $8.02.
For an analyst ratings summary and ratings history on Toronto-Dominion Bank click here. For more ratings news on Toronto-Dominion Bank click here.
Shares of Toronto-Dominion Bank closed at $81.29 yesterday.
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