Charles Schwab price target raised to $91 from $90 at Truist

Truist raised the firm’s price target on Charles Schwab (SCHW) to $91 from $90 and keeps a Buy rating on the shares following this morning’s announcement that TD Bank (TD) will be selling its roughly 10% stake in the company, with Schwab participating in the secondary offering with a buyback of $1.5B, or about 1% of its market cap. This buyback is larger than the $750M the firm had modeled previously for Q1, notes the analyst, who raising the firm’s 2025 EPS forecast 1% to $4.05 and its 2026 EPS view 1% to $5.05.