Wells Fargo upgraded Charles Schwab (SCHW) to Overweight from Equal Weight with a price target of $93, up from $89, following the earnings report. With Schwab’s major key performance indicators “inflecting to the positive, the bull case is winning” and the shares have room to run at current valuation levels, the analyst tells investors in a research note. The firm says that following a solid print and earnings call, the “bear case is weaker,” and that is expects the “bull case to prevail.” In 2025, Wells see continued net interest margin and operating margin expansion, continued balance sheet and capital improvement with the return of buybacks, and better organic growth for Charles Schwab.
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