Charles Schwab price target raised to $86 from $77 at Piper Sandler

Piper Sandler raised the firm’s price target on Charles Schwab to $86 from $77 and keeps an Overweight rating on the shares. The analyst believes investor sentiment and the business itself are at inflection points. While investors remain concerned about the impact potential new regulatory proposals could have on capital requirements, the proposals will likely prove manageable for Schwab and once announced could even be a positive catalyst for shares, the analyst tells investors in a research note. In addition, Piper does not expect client cash sorting to meaningfully reaccelerate, which it feels could potentially allow for an early pay down of the company’s short-term borrowings.