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Non-Tech : TD Waterhouse Group (TWE)

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To: Peppe who wrote (613)	7/19/1999 10:59:00 AM
From: Ian@SI	Read Replies (1) of 1413

A little more on the CSFB upgrade from Reuters... biz.yahoo.com Monday July 19, 9:51 am Eastern Time RESEARCH ALERT - TD Waterhouse started by CSFB NEW YORK, July 19 (Reuters) - Credit Suisse First Boston said on Monday that it has initiated coverage of discount broker TD Waterhouse Group Inc. (NYSE:TWE - news) with a strong buy and a $35 price target. -- ''As the most global online trading firm and the only online firm to offer an integrated bank, Waterhouse is ideally positioned to exploit the two keys to long term success in online financial services: globalization and product diversification,'' the brokerage said. -- Further, at $12 a share trade rate, Waterhouse offers one of the most ''compelling value propositions'' in the industry, it said. ''This superior value proposition has resulted in lower account acquisition costs and increasing market share.'' -- At current valuations, Waterhouse is the ''cheapest stock'' in the online trading industry despite its strong growth prospects and relatively attractive metrics, it added. -- Meanwhile, TD Waterhouse shares slipped 1-1/16 to 24-7/8 in morning trading on the New York Stock Exchange.

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