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Fly News Breaks for April 20, 2018
ETFC
Apr 20, 2018 | 08:18 EDT
SunTrust analyst Douglas Mewhirter raised his price target on E-Trade to $70 after the company's "strong" Q1 results showing better than expected revenues from accelerated investments along with better net interest margins and "another loan loss reserve reversal". Mewhirter also raised his FY18 EPS to $3.70 from $3.27 on higher net interest margin forecasts, adding that his new price target reflects unchanged 19-times multiple for expected FY18 earnings. The analyst keeps his Buy rating on E-Trade.
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