The Globe and Mail reports in its Tuesday, May 7, edition that Desjardins Securities analyst Doug Young believes the market is crawling up a "wall of worry" heading toward second quarter earnings season for Canadian banks. The Globe's David Leeder writes in the Eye On Equities column that Mr. Young believes "a lot of bad news is priced in." Mr. Young continues to rate Toronto-Dominion Bank "buy." Mr. Young shaved his share target by a loonie to $93. Analysts on average target the shares at $87.70. Mr. Young says in a note: "It seems that a majority of investors remain underweight Canadian bank stocks. Concerns range from a lack of cash EPS growth, the tempered outlook for NIMs/loan growth, potential for credit surprises and macro/geopolitical tension, etc." Mr. Young is currently forecasting a 3-per-cent year-over-year decline in cash earnings per share for the quarter, driven by higher provisions for credit losses and tax rates. The Globe reported on Nov. 7 and Feb. 14 that Mr. Young continued to rate TD "buy." It was then worth $80.94 and $78.50. The Globe reported on May 3 that National Bank analyst Gabriel Dechaine had reaffirmed his "sector perform" call for TD. The shares could then be had for $74.80.