ORLANDO, Fla., Aug. 23, 2006 (PRIMEZONE) -- RedChip Independent, a division of RedChip Companies, updated research on OptionsXpress Holdings (Nasdaq:OXPS).
Lisa Springer, MBA, CFA, RedChip Research Analyst, wrote in the report:
"We initiated coverage of OptionsXpress with a 'Buy' rating in January 2005. The company's impressive FY 2005 performance resulted in an increase in our target price for these shares from $25.00 to $30.00. Because of the company's record 1Q FY 2006 results, we increased our FY 2006 EPS estimate again from $1.07 to $1.10 and raised our target price to $33.00. We think OptionsXpress remains well-positioned to capitalize on double-digit growth in options trading volume, continued increases in the number of households with on-line brokerage accounts and ongoing consolidation within the brokerage industry."
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RedChip Independent Research Disclosure
The analysts contributing to this report do not hold any shares of OXPS. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change. OXPS is not a client of RedChip Companies, or any of its affiliates.