UPDATE: JMP Upgrades E*TRADE, Cites Risks to Shares Have "Incrementally Diminished"

In Monday's JMP Securities Morning Note, analyst Devin Ryan upgraded E*TRADE Financial (NASDAQ: ETFC ) from Market Perform to Market Outperform and initiated a $26.00 price target. Shares of E*TRADE were up 119% in 2013. Even if an upside was missed, the analyst remarked that the risks have "incrementally