FBR Capital Reiterates an 'Outperform' on E*TRADE (ETFC); Credit Trends Mixed, but Outlook Remains Intact
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Price: $49.26 --0%
Rating Summary:
11 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
11 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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FBR Capital reiterates an 'Outperform' on E*TRADE (NASDAQ: ETFC), PT lowered from $19 to $17.
FBR analyst says, "The brokerage operations continue to post steady results, and while credit appears to have taken a step back from April to May, the uptick in early-stage delinquencies is likely temporary and should reverse itself next month. Although the operating environment for the online brokers remains challenging, especially as we head into the seasonally slow summer months, we believe ETFC shares remain attractive as a credit and capital turnaround story. As the loan portfolio runs off and credit continues to improve, shares should eventually benefit from: (1) meaningfully lower provision expense, (2) capital unlocking and paydown of high-cost debt, and (3) increased takeout speculation."
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 $14.06 yesterday.
FBR analyst says, "The brokerage operations continue to post steady results, and while credit appears to have taken a step back from April to May, the uptick in early-stage delinquencies is likely temporary and should reverse itself next month. Although the operating environment for the online brokers remains challenging, especially as we head into the seasonally slow summer months, we believe ETFC shares remain attractive as a credit and capital turnaround story. As the loan portfolio runs off and credit continues to improve, shares should eventually benefit from: (1) meaningfully lower provision expense, (2) capital unlocking and paydown of high-cost debt, and (3) increased takeout speculation."
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 $14.06 yesterday.
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