Shares of online broker National Discount Brokers (Nasdaq: NDB) climbed more than 28 percent on Wednesday, soaring 12-3/4 to 58 after Piper Jaffray initiated coverage of the company with a strong buy rating and a $90 price target. This came one day after the stock rocketed 10 7/8 to 56-1/18 after Deutsche Banc Alex. Brown, started coverage of the online broker with a strong buy rating and a $100 price target.
At this rate, this stock could hit $100 next week — especially if more analysts start jumping on the bandwagon. National Discount Brokers still looks cheap compared to bigger players like E*Trade, but you have to wonder whether its going to look cheap much longer.
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