Company Name: E*Trade Group Inc.
Symbol: EGRP
Price 6/25/00: $17.0625
6 month target $31
The online financial services industry is growing exponentially each year. EGRP
has been making acquisitions and partnerships to develop itself into a full-fledged
online financial services company instead of simply the number two online broker
(behind Charles Schwab). The company's E*TRADEBANK offers valuable features like
CD's, checking, and bill paying. With a tremendous customer base already using
its brokerage services, E*TRADEBANK will have no problem becoming a very valuable
asset to EGRP. Wit Capital has recently acquired E*OFFERING, EGRP's online investment
banking firm that serves as an underwriter for IPOs and an investment analyst.
We expect EGRP to make many more acquisitions to further the development of its
consumer financial services. I also believe that EGRP will begin to offer services
tailored to corporate clients. Once a high-flyer, the stock has sold off tremendously
in the past 12 months and when value tech stocks come into favor, EGRP will perform
well.
