Charles Schwab price target lowered to $85 from $92 at JPMorgan

JPMorgan lowered the firm’s price target on Charles Schwab to $85 from $92 and keeps an Overweight rating on the shares. The company reported Q3 slightly ahead of expectations on net interest income and below the line items, partially offset by lower trading revenue, the analyst tells investors in a research note. The firm says the closely watched sorting data suggested month-over-month improvement in September. It thinks the Q3 results “are another step in a positive direction.”