Charles Schwab price target lowered to $64 from $68 at Barclays

Barclays analyst Benjamin Budish lowered the firm’s price target on Charles Schwab to $64 from $68 and keeps an Equal Weight rating on the shares. The company’s Q4 earnings beat was helped by a lower tax rate and net new assets growth improved, but 2024 looks to be another challenging and “transitional” year, the analyst tells investors in a research note. The firm’s 2024 and 2025 earnings estimates both come down 5%.