BofA raised the firm’s price target on Charles Schwab to $58 from $54 and keeps an Underperform rating on the shares. Following the company’s Q4 report, the firm is lowering 2024 and 2025 EPS estimates while raising its 2026 EPS estimate. The firm sees risk to Schwab’s 5-7% organic growth target in 2024-25 and forecasts cash sorting to improve, but linger and pressure deposit growth in 2024, the analyst tells investors in a post-earnings note.
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