Gabelli Sees Shares of Ameritrade More Than Doubling (AMTD)

Gabelli & Co. has a Buy rating on shares of TD Ameritrade Holding Corp. AMTD. In a note to clients, Gabelli writes, "Will release quarterly earnings on Monday morning. Conference call will be at 8:30AM. We expect a very strong earnings release based on strength in trading in the beginning of 2011. Our expectations include EPS of $0.29, DARTs of 440,000, and +6% in client assets. We believe the company can grow earnings at an annual rate above 15% over the next four years due to organic growth, operating leverage and more profitable spreads on client assets from higher interest rates. We continue to recommend Buying AMTD with shares trading at 9x EBITDA of $1.6B. 2012 PMV of $47." Shares of AMTD are up 44 cents today to close at $22.11, a gain of 2.03%.