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Non-Tech : TD Waterhouse Group (TWE) -- Ignore unavailable to you. Want to Upgrade?

To: Gustaf who wrote (615)	7/20/1999 9:46:00 AM
From: Ian@SI	Read Replies (1) \| Respond to of 1413

Got a plug from Nesbitt Burns yesterday as well. New York, July 19 (Bloomberg) -- TD Waterhouse Group Inc., the third-largest Internet broker, was recommended by two analysts, though the stock fell as a rival reported a slowdown in trading growth. Shares of the New York-based company fell 1 13/16, or 7 percent, to 24 1/4, its biggest one-day decline. The company's initial public offering price on June 23 was $24 a share. TD Waterhouse shares have closed between 22 7/16 and 26 1/8 since the offering. Shares of Internet brokers declined after ETrade Group Inc. reported trading volume growth slowed to 15 percent in its third quarter ended June 30 from 63 percent in the previous quarter. Shares of ETrade, the No. 2 online broker, fell 7.5 percent. Credit Suisse First Boston analyst Bill Burnham began coverage of TD Waterhouse with a ''strong buy'' rating and a $35 12-month price target. CSFB managed the firm's IPO. TD Waterhouse is ''the most global online trading firm and the only one to offer an integrated bank.'' The firm is 89 percent-owned by Canada's Toronto-Dominion Bank. William Lazarakis at Nesbitt Burns Inc. recommended the stock with a $30 target price. TD today said it ended its self-imposed ''quiet period'' on making comments about the company, 25 days after its IPO, though it had no news to report.