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UPDATE: Credit Suisse Upgrades E*TRADE Financial On Turning Point In Unlocking Value

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In a report published Friday, Credit Suisse analyst Christian Bolu upgraded the rating on E*TRADE Financial Corp (NASDAQ: ETFC) from Neutral to Outperform, and raised the price target from $24.00 to $28.00.

In the report, Credit Suisse noted, “We are upgrading ETFC shares to Outperform. Following the approval of ETFC's capital plan, we now see a more credible pathway to unlocking the substantial trapped value in the E*trade franchise. Our revised target price is $28 (old: $24), and implies shares can trade at 15x 2016 EPS plus ~$5 per share of excess capital.”

E*TRADE Financial closed on Thursday at $22.65.

Latest Ratings for ETFC

DateFirmActionFromTo
Nov 2019MaintainsOverweight
Oct 2019MaintainsHold
Oct 2019MaintainsOverweight

View More Analyst Ratings for ETFC
View the Latest Analyst Ratings

Posted-In: Christian Bolu Credit SuisseAnalyst Color Upgrades Analyst Ratings

 

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