Barclays lowered the firm’s price target on Charles Schwab to $61 from $79 and keeps an Equal Weight rating on the shares. The analyst updated price targets in the brokers, asset managers and exchanges group following the collapse of SVB Financial and other recent events. The firm thinks near-term cash borrowing will weigh on fiscal 2023 and 2024 earnings and balance sheet growth for the sector. Barclays views consensus estimates for Schwab as too high.
Published first on TheFly
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