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AMTD

TD Ameritrade

$37.81

1.02 (2.77%)

16:02
10/21/19
10/21
16:02
10/21/19
16:02

TD Ameritrade reports Q4 EPS $1.05, consensus 98c

Reports Q4 revenue $1.56B, consensus $1.47B.

  • 22

    Oct

AMTD TD Ameritrade
$37.81

1.02 (2.77%)

10/09/19
DBAB
10/09/19
NO CHANGE
DBAB
Hold
Deutsche sees 'major' M&A as potential path for E-Trade, Ameritrade
Charles Schwab's (SCHW) move to cut trade commissions to zero is likely to spur business model changes at TD Ameritrade (AMTD) and E-Trade Financial (ETFC), Deutsche Bank analyst Brian Bedell tells investors in a research note. Instead of managing "persistent" revenue declines, management teams should seek to leverage their strong operating platforms and loyal customer base into a more diversified retail financial service offering that includes online banking, digital wealth management and investment advisory, argues the analyst. This may require "major" M&A for E-Trade and Ameritrade, while Schwab can likely augment its wider range of offerings organically or via smaller bolt on deals, says Bedell. He still views Ameritrade as the "most efficient acquirer" of E-Trade, but finds it no longer clear that the combination "would create a broad enough financial services offering for the new revenue paradigm." One alternative idea could be an E-Trade combination with a digital banking and wealth management platform, says the analyst, who analyzed a potential merger with Goldman Sachs (GS). Bedell also wonders if Ameritrade will eventually explore strategic alternatives or if 43% owner TD Bank (TD) will eventually seek to acquire a much larger controlling stake in the company.
10/14/19
SBSH
10/14/19
DOWNGRADE
SBSH
Sell
TD Ameritrade downgraded to Sell from Neutral at Citi
10/14/19
SBSH
10/14/19
DOWNGRADE
Target $27
SBSH
Sell
TD Ameritrade downgraded to Sell from Neutral at Citi
Citi analyst William Katz downgraded TD Ameritrade to Sell from Neutral with a price target of $27, down from $35.50. The analyst expects "another leg down" in the shares given the commission wars among the electric brokers that he believes is not fully factored into the stock. TD Ameritrade's business model now has greater cyclicality, which warrants a low price-to-earnings multiple, Katz tells investors in a research note. The analyst adds that while a potential buyout "seems potent on paper," he sees low visibility on such a deal.
10/14/19
SBSH
10/14/19
NO CHANGE
SBSH
Citi opens '30-Day Negative Catalyst Watch' on Waddell & Reed
Citi analyst William Katz opened a "30-Day Negative Catalyst Watch" for Sell-rated Waddell & Reed (WDR) and initiated a "90-Day Positive Catalyst Watch" on Buy-rated Carlyle Group (CG). He also initiated a "Persistent Existentialism" pair trade, or overweight Charles Schwab (SCHW) and underweight TD Ameritrade (AMTD), a stock he downgraded this morning to Sell from Neutral. Into the Q3 earnings season, the analyst lowered his 12-month price targets for the Brokers and Asset Managers to reflect a combination of lower target multiples and reduced earnings prospects.

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