Charles Schwab price target raised to $81 from $70 at Argus

Argus analyst Stephen Biggar raised the firm’s price target on Charles Schwab to $81 from $70 and keeps a Buy rating on the shares. The price target increase reflects decreasing concerns about deposit outflows, and Argus expects Schwab’s long-term revenue drivers to remain asset management fees and net interest income, which together account for about 70% of revenues, the analyst tells investors in a research note.