TD Cowen analyst Bill Katz upgraded Charles Schwab (SCHW) to Outperform from Market Perform with a price target of $87, up from $70. The firm believes the backdrop is “incrementally more conducive” for the retail broker dealers for net interest margins and capital markets, noting that its latest EPS revisions put it “at or above consensus mostly.” In addition, the firm expects constructive May investor day updates from Raymond James (RJF) and Schwab, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SCHW:
- Charles Schwab sees Q1 revenue growth of approximately 5% to 6%
- Charles Schwab reports total client assets $8.88T up 20% as of February-end
- Charles Schwab price target raised to $72 from $64 at Barclays
- Charles Schwab: Total client assets $8.56T as of January-end up 14% YoY
- Charles Schwab put volume heavy and directionally bearish
Questions or Comments about the article? Write to editor@tipranks.com