- Reiterating his Outperform rating on E*Trade (ETFC +4.1%) post-earnings, Wells Fargo's Chris Harris takes note of the large number of possible positive catalysts.
- Among them: 1) Continued loan loss reserve releases, 2) better-than-expected expense management, 3) bank balance sheet growth, 4) OptionsHouse integration going better than planned, 5) Higher interest rates.
- Harris: "There seems to be a renewed sense of urgency with management setting an 18-24 month timeframe for accomplishing its growth objectives. If unsuccessful, it noted it may consider other strategic options including a sale of the company."