Charles Schwab price target raised to $75 from $70 at Wells Fargo

Wells Fargo raised the firm’s price target on Charles Schwab to $75 from $70 and keeps an Equal Weight rating on the shares. The company’s Q3 results, led by “surprisingly strong” client cash were better than feared, though concerns remain around Charles Schwab’s net new asset growth, net interest margins, and whether cash trends have turned the corner, the analyst tells investors in a research note. Charles Schwab’s lower net interest income was partially offset by higher asset management revenue however, the firm added.