Charles Schwab price target raised to $74 from $64 at Barclays

Barclays raised the firm’s price target on Charles Schwab to $74 from $64 and keeps an Equal Weight rating on the shares post the Q3 report. The company’s earnings beat by 3%, driven by sales outperformance, but more importantly, cash balances grew, progress was made paying down funding, the analyst tells investors in a research note. However, the firm says it is not yet clear if the cash trend is sustainable.