NEW YORK (TheStreet) -- Shares of E*TRADE Financial Corp. (ETFC) - Get Report are up 1.48% to $27.45 in afternoon trading Thursday after Barclays increased its price target to $32 from $28, while maintaining its "overweight" rating.
E*TRADE Financial is a financial services company and an online brokerage industry.
The firm's analysts recommended buying E*TRADE for future optionality. "We view E*TRADE as the most uniquely positioned of the eBrokers, having only recently positioned itself to redeploy capital in an earnings accretive manner," they said.
Analysts estimate that the financial services company can free up as much as $1 billion in available capital to deploy this year, a number which will only grow.
"Today, we are building a little more than a 30 cent benefit over the next three years, assuming only 50% of available capital is deployed," Barclays noted.
Separately, TheStreet Ratings team rates E TRADE FINANCIAL CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate E TRADE FINANCIAL CORP (ETFC) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
You can view the full analysis from the report here: ETFC Ratings Report