E TRADE Financial Corporation (NASDAQ: ETFC) shares got oversold in the recent market meltdown and now might offer investors a 24 percent upside, an analyst said Monday.
The online trading company is down nearly 14 percent since market highs in September. It's expected to post earnings growth of 37 percent Tuesday after the market closes.
Goldman Sachs' Alexander Blostein boosted his rating on E Trade to Conviction Buy on Monday, saying the market has also overreacted recently on several comparable stocks.
In a report published Thursday, FBR Capital Markets analyst Paul J. Miller Jr. upgraded the rating on Bank of America Corp (NYSE: BAC) from Market Perform to Outperform, and raised the price target from $18.00 to $20.00.
In the report, FBR Capital Markets noted, “We are upgrading Bank of America Corporation (BAC) shares to Outperform from Market Perform and raising our price target to $20 from $18, given the belief that our FY15E TBV of $15.61 per share should offer good downside support at existing levels. Given drastically reduced litigation expenses going forward, we think the core earnings power of the company should begin to accrete to existing shareholders, allowing book value growth at a company that has struggled to grow TBV since the crisis. We believe on target cost saves have proven management's ability to execute its strategy to improve shareholder returns, and position the company to potentially generate EPS approaching or in excess of our $1.60 estimate for 2015. As such, we think the shares are likely to garner multiple expansion from existing levels. Following 3Q14 results and in conjunction with our upgrade, we are adjusting our FY15E operating EPS to $1.60 from $1.50. Further, we are also adjusting our FY14E operating EPS to $1.45 from $1.37.”
May 2, 2014
ATEN price raised today...tgt..$17
J.P. Morgan raised the price target on ATEN from $16 to $17. and an Overweight Rating.
LOL I bought some shares @ $4.90 This is way to cheap now
MGM Resorts International (NYSE: MGM) was upgraded Tuesday by Deutsche Bank from Hold to Buy with the price target increased from $29 to $30.
Analyst Carlo Santarelli noted in a report that the stock’s recent pullback represents an “optimal entry point” for investors seeking a “multi-year long trade.”
Santarelli explained that he thinks the risk-return at the current levels is “compelling despite the concerns over Macau growth in the near to medium term. In our view, and based on our below Consensus MGM Macau forecasts, we think the upside in Las Vegas has been overshadowed by the negative revisions in Macau to which MGM is less sensitive than peers.”
The report also mentioned improving fundamentals on the Las Vegas Strip with “significant upward trajectory potential” for asset recovery. Returns on regional developments are “largely non-existent at current levels, while the Cotai project has been significantly discounted.”