Despite TD Ameritrade's Weak Quarter, Desjardins Remains Bullish On TD Bank

An earnings miss on falling trading revenue at TD Ameritrade Holding Corp. (AMTD) may have only caused a minor downward blip for Toronto-Dominion Bank (TD) on Tuesday, but AMTD shares were down more than 7% in New York at around 1 p.m. ET.

TD Bank expected AMTD’s March quarter would contribute C$63-million to its second quarter financials, according to Desjardins Securities analyst Michael Goldberg.

He continues to rate TD Bank a “top pick” and has a C$78.50 price target on the stock, representing upside of almost $10.

AMTD also lowered its full-year 2007 guidance range to US92¢ to US$1.08 from US$1.01 to US$1.19.