Charles Schwab price target raised to $75 from $65 at Citi

Citi analyst Christopher Allen raised the firm’s price target on Charles Schwab to $75 from $65 and keeps a Buy rating on the shares. Following the Q2 earnings, the analyst increased estimates to account for lower short-term funding given slowing cash sorting trends, as well as an incremental $500M of expected expense synergies. The firm says that while the revenue environment remains challenged near-term, it is starting to see some positive signs for the longer-term outlook.