Charles Schwab shares are trading lower after Goldman Sachs downgraded the stock from Buy to Neutral and announced a $71 price target.
Portfolio Pulse from Benzinga Newsdesk
Charles Schwab's stock (SCHW) is trading lower following a downgrade by Goldman Sachs from 'Buy' to 'Neutral', with a new price target set at $71.
January 03, 2024 | 3:28 pm
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Goldman Sachs downgraded Charles Schwab from 'Buy' to 'Neutral' and set a price target of $71, leading to a decrease in the stock's trading price.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less favorable outlook for the company's stock. The new price target of $71 may also influence investor expectations and trading behavior, potentially leading to a decrease in the stock price in the short term.
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