Truist analyst David Smith initiated coverage of Charles Schwab (SCHW) with a Buy rating and $86 price target The firm says there is “very strong” revenue growth potential as Schwab’s net interest income inflects from paying down higher cost funding and as the securities book reprices at market levels. Concerns over cash sorting and the balance sheet are “fading away,” and the simplifying story should make it easier for investors to get excited about Schwab’s longer-term prospects driven by best in class scale, the analyst tells investors in a research note.
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