Charles Schwab price target lowered to $77 from $88 at Deutsche Bank

Deutsche Bank analyst Brian Bedell lowered the firm’s price target on Charles Schwab to $77 from $88 and keeps a Buy rating on the shares. The firm reduced estimates after incorporating a lower short-term interest rate backdrop. While August metrics and company commentary are supportive for a better trajectory of net new asset growth and a continued trend toward stabilization of deposits, investors will focus on the longer-term outlook likely to be portrayed by incoming CFO, Mike Verdeschi, on the Q3 earnings call, the analyst tells investors in a research note. Deutsche thinks this will include a lower net interest margin outlook for 2025 and 2026.