Charles Schwab price target lowered to $79 from $87 at Barclays

Barclays analyst Benjamin Budish lowered the firm’s price target on Charles Schwab to $79 from $87 and keeps an Equal Weight rating on the shares. The company’s fiscal 2023 guidance came in worse than Street expectations, with revenues below and operating expense growth above consensus, the analyst tells investors in a research note. However, the firm believes Schwab’s net interest margin targets through fiscal 2025 remain intact, and says management was quite optimistic on longer-term opportunities.