Charles Schwab price target lowered to $65 from $70 at UBS

UBS lowered the firm’s price target on Charles Schwab to $65 from $70 and keeps a Buy rating on the shares. Charles Schwab’s Spring Update served as a clearing event, allowing for forecasts to reset, the analyst tells investors in a research note. While the negative data points were largely anticipated, the stock will probably be range bound in the near-term until there is clear evidence of sorting abating, the firm says.