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Fly News Breaks for July 26, 2016
ETFC
Jul 26, 2016 | 08:42 EDT
After E-Trade announced that it would acquire options platform OptionsHouse, JMP Securities analyst Devin Ryan says that the company's guidance for a "roughly neutral contribution" to its 2017 earnings is conservative. According to the analyst ,the guidance does not appear to incorporate "much, if any, underlying business growth (for a company that has expanded accounts by 10% annually), cross-selling opportunities to either firm's customer base, or the benefit from higher interest rates." The analyst is upbeat about the long-term outlook of the deal, and he reiterates a $32 price target and Outperform rating on E-Trade.
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