Deutsche Bank analyst Brian Bedell downgrades TD Ameritrade Holding Corp. (NASDAQ:AMTD) from Buy to Hold and issues a price target of $31.00. The analyst believes a better entry point into the stock will rear its head.
The analyst notes that the company’s EPS of $0.39 slightly beat his estimate of $0.38 due to strong trading revenue and successful cost control efforts. However, the analyst notes that IDA revenue of $234 million slightly missed his expectations of $237 million.
Overall, the analyst views AMTD’s business model management as solid, but notes that shares are less appealing as the share prices approaches his price target. As a result, he advises investors to wait for a better entry point.
According to TipRanks, Bedell is ranked #2,923 of 4,057 analysts. He realizes an average return of -0.4% and has a success rate of 50%.