Barclays analyst Benjamin Budish lowered the firm’s price target on Charles Schwab to $55 from $57 and keeps an Equal Weight rating on the shares post the Q3 report. The decline in aggregate cash balances in September and a fiscal 2023 revenue guide-down were more than offset by stronger than expected short-term debt paydown, lower AOCI losses and high confidence on the path to capital build, the analyst tells investors in a research note.
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