Goldman Sachs Upgrades E*TRADE (ETFC) to Buy, Sees 20% Upside

Goldman Sachs upgraded E*TRADE (NASDAQ: ETFC) from Neutral to Buy with a $19 price target, suggesting 20% upside.

The firm states, "As we approach a seasonally slower period during summer months, which will likely impact all volume-sensitive names in our coverage group, we prefer shares of E*Trade for the company's lower exposure to transaction-based revenue, muted impact from the declining recent trend in interest rates, improving credit, and its year-to-date underperformance."

For more ratings news on E*TRADE click here and for the rating history of E*TRADE click here.

Shares of E*TRADE closed at $15.92 yesterday.

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