FYI: That’s the short version of Wednesday’s note from Jefferies’ Daniel Fannon, who set a “buy” rating on shares of the online broker. “We view the current valuation as attractive for the core business,” he wrote, “while the financial and strategic benefits as a takeout candidate remain intact.”
As that quote implies, Fannon isn’t saying the only reason to like the company is as a buyout candidate. He cited August investor activity at the company—as well as Barron’s Next 50 companies TD Ameritrade Holding(AMTD) and Charles Schwab(SCHW)—as signs of “strong investor engagement and positive inflows.”
Regards,
Ted
https://www.barrons.com/articles/for-e-trade-not-selling-itself-may-be-hard-to-justify-1537378171?mod=hp_RTA
