Truist raised the firm’s price target on Charles Schwab (SCHW) to $112 from $107 and keeps a Buy rating on the shares. The company’s monthly assets data was “a hot one” as net new assets growth accelerated back above 5% and was nearly 6% on a seasonally adjusted basis by our math accounting for a typical July headwind – the strongest growth in more than 2 years, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SCHW:
- Positive Momentum and Earnings Growth Drive Buy Rating for Charles Schwab
- Charles Schwab reports July core net new assets $46.9B
- Deutsche Bank (DB) Boosted Its Tesla Stake by 20.8%
- Charles Schwab call volume above normal and directionally bullish
- Insider Moves: Charles Schwab, Phillips 66, NXP, Corning, Boston Scientific