Citi Lowering EPS and PT on TD Ameritrade Holding After F1Q12

According to a research report published today, Citi is maintaining a Buy rating for TD Ameritrade Holding Corporation (NASDAQ: AMTD), even though it must trim its PT from $19.50 to $18.25.

Citi commented that, “LT EPS power rising despite ST macro pressure — Reflecting strong asset gathering, improving mix shift, lower share count, and expense control (project LEAN) partially offset by acute rate pressure and tighter spreads. Focus on profitability should offer strong EPS leverage when rates &/or trading dynamics become more favorable.”

TD Ameritrade Holding Corporation closed yesterday at $16.01.