Online brokerage operator TD Ameritrade Holding Corp. ( AMTD ) on Monday saw its rating cut by analysts at Goldman Sachs.
The firm said it downgraded AMTD from "Buy" to "Neutral" but maintained its $24 price target, which still suggests a 15% upside to the stock's Friday closing price of $21.14.
A Goldman analyst commented, "While we remain attracted to TD Ameritrade's asset growth strategy (11-12% organic asset growth), proven management capability relating to strategy and capital deployment, and leading position in a secular growth industry, we see more near term stability in E*Trade should volumes decelerate through the summer and reinvestment rates are more impacted by the decline in Treasury yield at AMTD and SCHE."
TD Ameritrade shares were mostly flat in premarket trading Monday.
The Bottom Line
Shares of TD Ameritrade ( AMTD ) have a .95% dividend yield, based on Friday's closing stock price of $21.14. The stock has technical support in the $19-$20 price area. If the shares can firm up, we see overhead resistance around the $22-$23 price levels.
TD Ameritrade Holding Corp. ( AMTD ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Created by Dividend.com