Charles Schwab price target raised to $80 from $74 at Goldman Sachs

Goldman Sachs analyst Alexander Blostein raised the firm’s price target on Charles Schwab (SCHW) to $80 from $74 and keeps a Neutral rating on the shares. The company’s October results were underscored by continued improvement in the firm’s transactional cash balances – the key driver of its earnings trajectory over the near-to-medium term, which increased by $10B from last quarter, the analyst tells investors in a research note. The year-end tends to have lots of seasonal benefits, and the firm is encouraged by the second month in a row of much better than expected cash trends, Goldman Sachs added.