Charles Schwab price target raised to $105 from $103 at Piper Sandler

Piper Sandler analyst Patrick Moley raised the firm’s price target on Charles Schwab (SCHW) to $105 from $103 and keeps a Neutral rating on the shares. Despite a guide up on revenues driven by significant net interest margin upside to exit the year, the stock traded down about 2% on the day, the firm notes. Management commentary focused on the constructive nature of AI for the business, a rebuttal of the AI “cash optimization” narrative that has weighed on the stock recently, momentum in advisor services, opportunity in workplace services, and strength in the company’s self-directed trading and wealth businesses, adds Piper.