Anticipating Charles Schwab's Recovery: JMP Securities Upgrades SCHW Amid Projected Revenue Growth
Portfolio Pulse from Lekha Gupta
JMP Securities analyst Devin Ryan has upgraded Charles Schwab Corp (NYSE:SCHW) to Market Outperform from Market Perform with a price target of $73. Ryan expects challenging Q2 operating results in Financial Services and FinTech industry, but sees stabilization in cash sorting in the retail brokerage and wealth management category. The analyst revised the estimate for EPS to $0.69 from $0.79 for Q2 2023, and to $3.20 from $3.45 for 2023. For 2024, the EPS estimate is now $3.80, down from $3.90.
July 10, 2023 | 5:45 pm
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Charles Schwab Corp has been upgraded by JMP Securities, which could lead to increased investor confidence and potential stock price growth.
The upgrade by JMP Securities indicates a positive outlook for Charles Schwab Corp. This could lead to increased investor confidence in the company, potentially driving up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100