Buckingham Sees 17% Upside In E*Trade Financial

E*TRADE Financial CorpETFC
shares reacted positively on Friday after posting a strong third-quarter report earlier in the week. E*Trade traded up nearly 6 percent on the day.

Management has highlighted some aggressive growth targets for the company that have impressed Buckingham Research analysts who remain bullish on the future prospects of the online brokerage.

Related Link: E*Trade Reports Q3 EPS $0.51 vs. Est. $0.50, Rev. $486M vs. Est. $470M

E*Trade plans to grow its managed products to $6 billion from current levels of $3.7 billion. When posed the question of what the company would do if they didn't hit their goals, they said they would consider a variety of options, including a potential sale or partnership.</p[>

Buckingham Research maintains its Buy rating on E*Trade with a $33 price target.

Full ratings data available on Benzinga Pro.

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Posted In: Analyst ColorEarningsLong IdeasNewsPrice TargetReiterationAnalyst RatingsMoversTrading IdeasBuckingham Research
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