UPDATE: Goldman Sachs Lowers PT to $10 on E TRADE Financial Corporation

Goldman Sachs reiterates its neutral rating on E TRADE Financial Corporation

and lowers its price target from $11 to $10 as the company continues to be pressured by capital constrains. Goldman Sachs comments, "ETFC continues to be pressured by capital constraints related to its legacy loan portfolio despite solid results in core brokerage. As such, we reduce our ETFC 2012-2014E to $0.43/$0.70/$0.95 from $0.50/$0.72/$1.00 and our revised 12-month price target is $10." ETFC closed at $9.88 on Thursday.