Citi Initiates Coverage on E*TRADE (ETFC) with a Sell
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Citi initiates coverage on E*TRADE (Nasdaq: ETFC) with a Sell. Price target $0.25.
Citi analyst says, "E*Trade is a tale of two companies. On one hand, the retail brokerage operation is steady. The segment has averaged over $500M of annual operating earnings and 41% margins over the past five years. The institutional business, however, remains an albatross as a result of its $25.5B loan portfolio. While we believe current management is doing all they can to address the company's legacy balance sheet issues, the long-term viability of the company remains in doubt, in our view."
To see more analyst ratings on ETFC Click Here.
E*TRADE Financial Corporation (E*TRADE), is a financial services company, that provides online brokerage and related products and services primarily to individual retail investors, under the brand E*TRADE Financial.
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Comments
citi said to sell e-trade
What the HELL? Citi says to sell e-trade? Let's see, citi took about 50 billion dollars of the tax payers money and e-trade took none. citi stock is less than a $1.50, it was less than a $1.00 and they have the (b***s) to come out and say sell e-trade!! this is what the SEC should be stopping in this kind of market; and the analyst should be FIRED
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etrade
Steve Roman on Mar 12, 2009 11:18 AMThis stock will evenually recover. I am targeting 4-5 by 12/31/10.