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Barclays Upgrades E-Trade, Ameritrade, Says Recent Selling Overdone

Barclays on Friday upgraded its ratings on online brokerages E-Trade Financial Corp. and Ameritrade Holding Corp. and said the recent pullback in their shares was overdone. In the past few weeks, a heated debate about high-frequency trading has shaved about 10% off the shares of e-brokers, far exceeding the 2% decline in the S&P 500 in the period, said Barclays. "While the issue may continue to garner attention moving forward, we believe the risk/reward reflected in the current share price provides a more favorable investment opportunity at present," analyst Kenneth Hill wrote. Hill upgraded E-Trade to overweight from underweight and raised its price target to $25 from $20. The analyst upgraded Ameritrade to overweight from equal weight and left its price target at $36.Copyright © 2014 MarketWatch, Inc....

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