E*Trade (ETFC): Wall St. Price Target Double Current Level

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By Douglas A. McIntyre Published
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A look at Thomson/First Call securities analyst ratings and price targets for E*Trade (ETFC) shows that, among eleven brokers surveyed, their mean price target is $10.64. The discount broker, which is in deep trouble, closed today at $4.60.

There is real concern that, even if the retail brokerage accounts from E*Trade can be sold to a rival, probably Schwab (SCHW) or TD Ameritrade (AMTD), the funds would have to go to support the failing company’s banking operation which has a large pool of mortgage-backed assets. It is not clear that common stock holders would get much in this kind of transaction.

Thomson figures show that analysts have mean recommendation of 2.9 on ETFC based on a scale of 1 (strong buy) to 5 (strong sell).

Hard to be so far off the mark. "Sell" ratings must not be very popular.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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