JPMorgan lowered the firm’s price target on Charles Schwab to $83 from $85 and keeps an Overweight rating on the shares. Following the Q4 earnings release, the analyst lowered 2024 estimates due largely to less short term borrowing paydown and slightly tweaked down 2025 estimates as 2024 exits with some additional short term borrowing. The firm continues to see sorting as a key factor while Schwab stabilizes the balance sheet near-term and positions the company for 2025 and beyond.
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