Goldman Sachs Raises PT on TD Ameritrade to $24 (AMTD)

Goldman Sachs is out with its report today on TD Ameritrade AMTD, raising its price target from $23 to $24.

In a note to clients, Goldman Sachs writes, "We raise our 12-month P/E derived price target to $24 (from $23) on the back of our increased FY2012 estimates. Our price target assumes AMTD will trade at 16.6X our F2012 estimate in 12-months. Risks to our Buy rating and price target include lower client activity, lower NIM, and higher expenses."

Shares of AMTD closed Tuesday at $22.43, down 0.08% from Monday's close.