FBR Capital Reiterates an 'Outperform' on E*TRADE (ETFC); Baby Got Back in the Black
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Price: $49.26 --0%
Rating Summary:
11 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
11 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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FBR Capital reiterates an 'Outperform' on E*TRADE (NASDAQ: ETFC), PT increased by $1 to $19.
FBR analyst says, "We are reiterating our rating on ETFC shares and raising our price target to $19 after the company reported better-than-expected 1Q11 earnings results last night, primarily driven by lower credit costs. Provision expense improved significantly due to further improvement in delinquencies and the run-off of the company's loan portfolio. In addition, core brokerage operations continue to post strong results, driven by record net new asset levels. Going forward, although the pace of credit improvement will likely slow, we expect more sustainable earnings growth would be welcomed both by investors and regulators, eventually opening the door for the company to access its growing capital base to pay down debt and return capital to shareholders."
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.
FBR analyst says, "We are reiterating our rating on ETFC shares and raising our price target to $19 after the company reported better-than-expected 1Q11 earnings results last night, primarily driven by lower credit costs. Provision expense improved significantly due to further improvement in delinquencies and the run-off of the company's loan portfolio. In addition, core brokerage operations continue to post strong results, driven by record net new asset levels. Going forward, although the pace of credit improvement will likely slow, we expect more sustainable earnings growth would be welcomed both by investors and regulators, eventually opening the door for the company to access its growing capital base to pay down debt and return capital to shareholders."
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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