In a report published on Tuesday, Goldman Sachs analyst Alexander Blostein upgraded TD Ameritrade AMTD from Sell to Neutral and raised the price target on the company from $19 to $27.
In the report, Goldman Sachs stated, "Although we still think a majority of rate-related benefits are already reflected in AMTD's valuation (20X NTM P/E vs. 15X historically), we believe AMTD is likely to see an acceleration in EPS growth over the next several years, as rate-sensitive revenues are starting to trough, asset gathering momentum remains robust, and expenses are well controlled."
TD Ameritrade closed on Tuesday at $27.20.
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