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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: ISOMAN who wrote (12621)	3/17/2000 8:34:00 AM
From: ecommerceman	Read Replies (1) \| Respond to of 13953

Rbbertson/Stephens Web Report ETRADE'S NEIGHBORHOOD BRANCHES This week, ETrade (EGRP $26-3/16) announced the acquisition of Card Capture Services, the nation's largest independent automated teller network, with 8,500 machines distributed across 48 states and three countries. The network currently has relationships with RiteAid, Safeway and Chevron and generated $72 million in revenue last year. The stock-based acquisition is expected to be accretive immediately. We expect ETrade to greatly benefit from the physical presence of this network. We believe that branded ATM capabilities will enhance customer satisfaction, strengthen the public's trust in the ETrade name, increase cross-selling opportunities and expand its presence in the B2B market by leveraging relationships with ETrade's Business Solutions Group and small businesses. Our one-year target price for ETrade's shares is $41, approximately 63% above the current price. The target is based on applying a multiple of 50 to our 2003 EPS estimate of $1.45 and discounting the result back at a rate of 20%.