Charles Schwab price target lowered to $95 from $100 at Piper Sandler

Piper Sandler lowered the firm’s price target on Charles Schwab to $95 from $100 and keeps an Overweight rating on the shares after the company provided Q1 guidance with its February metrics release. Schwab’s client cash sorting continued in February, but did not accelerate, the analyst tells investors in a research note. The firm reduced estimates due to the softer than expected guidance for Q1 and its impact on the forward run rate.