Charles Schwab price target raised to $94 from $93 at BofA

BofA raised the firm’s price target on Charles Schwab (SCHW) to $94 from $93 and keeps an Underperform rating on the shares after its Q4 results. The company echoed Interactive Brokers (IBKR) in dismissing prediction-market expansion into sports, given that over 90% of current activity is sports-related and misaligned with its focus on investing, and with no meaningful client demand, the firm sees little near-term opportunity, the analyst tells investors in a research note. Forgoing sports contracts is a lost near-term revenue lever for Charles Schwab, though it could prove prudent if regulatory/legal risks intensify, the firm added.