Truist keeps a Buy rating and $112 price target on Charles Schwab (SCHW) as part of a broader research note on Trust Banks and Capital Markets names. The lower outlook for interest rates is a headwind for earnings via net interest income, but higher market levels should boost fees somewhat as assets under custody and assets under management levels climb, with activity levels also seeming solid as well, the analyst tells investors in a research note. The firm also remains positive on the company’s “growth momentum” and views the recent rate-related selloff as a potential buying opportunity, Truist added.
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