E*TRADE (ETFC) Target Rased to $21 at Goldman Sachs

October 24, 2013 10:56 AM EDT
Get Alerts ETFC Hot Sheet
Price: $36.23 -0.44%

Rating Summary:
    17 Buy, 5 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Goldman Sachs maintained a Buy rating on E*TRADE (NASDAQ: ETFC) and boosted its price target to $21.00 (from $19.00). Analyst Alexander Blostein sees additional upside to credit and capital.

"ETFC remains one of our top ideas as it continues to make progress on multiple fronts – loan portfolio is running off at 5% qoq pace driving down provision expenses, credit is improving and costs are well controlled. Moreover, we think ETFC is well positioned to develop into a capital return story as it deploys excess capital (inc. bank dvds.) to retire expensive debt, repurchase stock and potentially bring back deposits on the balance sheet," said Blostein

For an analyst ratings summary and ratings history on E*TRADE click here. For more ratings news on E*TRADE click here.

Shares of E*TRADE closed at $17.34 yesterday.

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