ISI Group Reiterates Buy Rating, $23 PT on TD Ameritrade Holding on Good February Metrics
In a report published Monday, ISI Group reiterated its Buy rating and $23.00 price target on TD Ameritrade Holding Corp. (NYSE: AMTD).
ISI Group noted, “AMTD's February metrics were roughly in line with expectations, though IDA balances are trending lower than forecast, though this is offset by fee-based balances trending higher than expected. February DARTs of 386k were near our 387k forecast and flat with January. With client assets of $502.5bn (up 1% from January) we estimate net new assets were $3-4bn in the month, implying an annualized organic growth rate of 8-9%, in middle of mgmt's target range but below our 12% forecast for CY1Q. Fee-based asset growth of 3% vs. Jan. outpaced equity market.”
TD Ameritrade Holding Corp. closed on Friday at $20.98.
Latest Ratings for AMTD
|Dec 2016||Keefe Bruyette & Woods||Initiates Coverage On||Market Perform|
|Oct 2016||Goldman Sachs||Removes||Neutral|
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