UPDATE: Barclays Upgrades TD Ameritrade

In a note released Friday, Barclays upgraded

from Equal-weight to Overweight and maintained a $36 price target. Barclays analyst Kenneth Hill explained that the drawback in the share price of Ameritrade amid the high frequency trade debate provides an opportunity for what is otherwise a strong business. Hill stated, "For AMTD, we see strength in trading activity, capital flexibility, and upside from rates over the long run."