Barclays Maintains an 'Equalweight' on E*TRADE (ETFC); Raising Estimates as Legacy Risks Compress

Barclays maintains an 'Equalweight' on E*TRADE (NASDAQ: ETFC) price target of $11.00.

Analyst, Roger A. Freeman, said, "We view 1Q12 as a decent quarter for the company as the beat vs. our estimate was driven by better-than-expected provision for loan losses and solid net interest income, partially offset by higher-than-expected expenses."

Freeman raises FY12 EPS estimate from $0.46 to $0.55, FY13 from $0.76 to $0.85 and FY14 from $0.96 to $1.01, citing strong Q1 and better provisions for loan losses, but does not continued sluggish trading environment.

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 $10.48 yesterday.

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