In this ETFC upgrade, the target price was raised from $150 to $2.30. At the time the upgrade was made, ETFC was trading at $1.74I should have become a stock analyst (I'm sure I'm dumb enough for the position)================================Analyst Keith Walsh tells salesforce ETFC recently completed $1.7B debt exchange and raised about $600M of equity to ease capital concerns. Notes he anticipates 2008-2012 loan losses of $6.4B, or 20% of ETFC's mortgage portfolio, but expects higher rates of provisioning in next 10 Qs despite slowing 30-89 day delinquency trends. Narrows $0.52 2009 loss view to $0.43 loss, '10's $0.15 loss to $0.09 loss. Adds that likelihood of potential takeover by competitors such as SCHW, AMTD increases as portfolio stabilizes. Ups $1.50 tgt to $2.30
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