The Globe and Mail reports in its Saturday, May 27, edition that RBC Dominion Securities analyst Darko Mihelic increased his financial expectations "modestly" for Toronto-Dominion Bank following the release of its second quarter financial results. The Globe's David Leeder writes in the Eye On Equities column that on Thursday, TD reported cash earnings per share for the quarter of $1.34, "well ahead" of Mr. Mihelic's projection of $1.21 as well as the consensus of $1.25. Mr. Mihelic's target for TD stock is now $70, up from $68, with an unchanged "sector perform" rating. Analysts on average target the shares at $70.61. Mr. Mihelic says, "We value TD at a median-like multiple to peers -- while we continue to see a more favourable growth outlook in its North American retail businesses, we see higher risk due to recent allegations surrounding sales practices in Canada." Elsewhere, CIBC World Markets analyst Robert Sedran maintained his "neutral" rating and $74 target. He says: "With the contribution from P&C Banking in Canada and the United States somewhere around 75 per cent of total bank earnings, these two businesses are our first stop when results come out. This quarter, both did well."