Deutsche Bank raised the firm’s price target on Charles Schwab (SCHW) to $84 from $80 and keeps a Buy rating on the shares. The firm says the company’s deposit balances are “trending much better.” It updated Schwab’s model to reflect a much better rebound in deposits than expected, now for two months straight. The company’s October core deposits on balance sheet were up $9.7B versus September after being up $14.5B in September – representing the strongest two month deposit trend in this cycle by far, the analyst tells investors in a research note.
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