These Analysts Raise Their Forecasts On Charles Schwab Following Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Charles Schwab Corporation (NYSE:SCHW) reported a 17% Y/Y decline in adjusted net income for Q1 2024 but exceeded revenue expectations with $4.74 billion, slightly above the consensus of $4.71 billion. The company also added 1 million new brokerage accounts, reaching a total of 35.3 million. Following the earnings announcement, analysts from JP Morgan, Barclays, B of A Securities, and Piper Sandler raised their price targets on SCHW, with varying ratings from Overweight to Underperform.
April 16, 2024 | 12:58 pm
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POSITIVE IMPACT
Charles Schwab exceeded Q1 revenue expectations and saw a significant increase in brokerage accounts, leading to positive analyst revisions.
The positive earnings report and the subsequent analyst upgrades indicate a strong performance and positive outlook for Charles Schwab, likely leading to a short-term positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100