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UPDATE: Sterne Agee Initiates E*TRADE Financial at Buy on Operating Leverage, Earnings Growth

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Sterne Agee initiated coverage on E*TRADE Financial (NASDAQ: ETFC) with a Buy rating and an $11.00 price target.

Sterne Agee said, "The continued run-off of the loan portfolio and bank deleveraging should drive considerable earnings growth in addition to substantial leverage to an improved operating environment. We view the impending transition to capital deployment as a meaningful catalyst that will also highlight the value of ETFC's tax assets, which we currently believe the market is ascribing limited value to."

E*TRADE Financial closed at $9.49 on Monday.

Latest Ratings for ETFC

DateFirmActionFromTo
Jul 2017Morgan StanleyMaintainsEqual-Weight
Jul 2017Bank of AmericaMaintainsNeutral
Jul 2017Deutsche BankMaintainsBuy

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Posted-In: Sterne AgeeAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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