Goldman Sachs Downgrades TD Ameritrade (AMTD) to Neutral

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May 9, 2011 7:02 AM EDT
Get Alerts AMTD Hot Sheet
Price: $0.74 -1.33%

Rating Summary:
    4 Buy, 18 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 9 | New: 24
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Goldman Sachs downgraded TD Ameritrade (NASDAQ: AMTD) from Buy to Neutral with a $24 price target, suggesting 15% upside.

The firm states, "While we remain attracted to TD Ameritrade's asset growth strategy (11-12% organic asset growth), proven management capability relating to strategy and capital deployment, and leading position in a secular growth industry, we see more near term stability in E*Trade should volumes decelerate through the summer and reinvestment rates are more impacted by the decline in Treasury yield at AMTD and SCHE."

For more ratings news on TD Ameritrade click here and for the rating history of TD Ameritrade click here.

Shares of TD Ameritrade closed at $21.14 yesterday.

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