Truist raised the firm’s price target on Charles Schwab (SCHW) to $100 from $97 and keeps a Buy rating on the shares. The firm notes that the company’s May net new asset growth slowed and cash mix fell as trading dipped following a huge August, though it is updating its assumed earnings multiple in line with those of the rebounding market over the past month, the analyst tells investors in a research note.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SCHW:
- Charles Schwab’s Strong Asset Growth and Cost Reduction Justify Buy Rating
- Positive Outlook for Charles Schwab: Buy Rating Backed by Strong Fundamentals and Growth Prospects
- Charles Schwab reports May total client assets $10.35T
- Tesla, Intuitive Surgical downgraded: Wall Street’s top analyst calls
- Charles Schwab upgraded to Neutral from Sell at Redburn Atlantic