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. The firm is updating its model after the announcement that TD Bank (TD) will be selling its 10% stake in the company, with Schwab participating in the secondary offering with a buyback of $1.5B, the analyst tells investors in a research note. This is larger than the $750M that Truist had modeled previously for Q1, the firm adds.