Truist analyst David Smith initiated coverage of Charles Schwab (SCHW) with a Buy rating and $86 price target The firm says there is “very strong” revenue growth potential as Schwab’s net interest income inflects from paying down higher cost funding and as the securities book reprices at market levels. Concerns over cash sorting and the balance sheet are “fading away,” and the simplifying story should make it easier for investors to get excited about Schwab’s longer-term prospects driven by best in class scale, the analyst tells investors in a research note.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SCHW:
- Charles Schwab price target raised to $93 from $90 at Wolfe Research
- Morgan Stanley’s E-trade unit considers crypto trading, CryptoSlate says
- Morgan Stanley (MS) May Offer Crypto Trading Through Its E-Trade Platform
- Broadcom tops $1T market cap on AI enthusiasm: Morning Buzz
- Charles Schwab boosts FY24 net revenue growth view to 3%-3.5%