Citigroup reduces its rating on TD Ameritrade Holdings AMTD from Buy to Neutral and reduces its price target from $22 to $18.
Citigroup comments, "We downgrade AMTD from Buy to Neutral, lower EPS estimates and sharply cut 12-month price targets as interest rate and retail trading re-engagement risks re-ignite, which increasingly call into question: a) near term EPS power; and, b) timing of more normalized EPS."
AMTD closed at $16.47 on Friday.
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