Charles Schwab price target raised by $9 at Barclays, here’s why

Barclays analyst Benjamin Budish raised the firm’s price target on Charles Schwab to $66 from $57 and keeps an Equal Weight rating on the shares. The firm believes Street estimates for net interest income are likely too high in fiscal 2025. It raised the price target but thinks upside is limited until there is more clarity on longer-term cash build. Fears around ongoing cash outflows at Schwab are abating as rate expectations now call for cuts next year, the monthly pace of cash declines is easing, and money market fund balance growth is decelerating, the analyst tells investors in a research note.