Charles Schwab price target lowered to $56 from $61 at Barclays

Barclays lowered the firm’s price target on Charles Schwab to $56 from $61 and keeps an Equal Weight rating on the shares. Fed Fund futures imply we are nearing a peak in U.S. interest rates, which could mean peak net interest income across the brokers in this cycle, the analyst tells investors in a research note. The firm thinks Street estimates may be low on net interest income for Interactive Brokers, while estimates look too high for Schwab.