Piper Sandler analyst Richard Repetto lowered the firm’s price target on Charles Schwab to $75 from $83 and keeps an Overweight rating on the shares post the Q1 results. . Client cash sorting appeared in check in March as overall client cash was down just $4.2B despite an increase in money market fund balances of $25.3B in the month, the analyst tells investors in a research note. The firm says Schwab’s organic growth offers a partial offset to the cash sorting impact.
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