Deutsche Bank raised the firm’s price target on Charles Schwab (SCHW) to $84 from $80 and keeps a Buy rating on the shares. The firm says the company’s deposit balances are “trending much better.” It updated Schwab’s model to reflect a much better rebound in deposits than expected, now for two months straight. The company’s October core deposits on balance sheet were up $9.7B versus September after being up $14.5B in September – representing the strongest two month deposit trend in this cycle by far, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SCHW:
- Early notable gainers among liquid option names on November 14th
- Charles Schwab:Total client assets $9.85T at October-end up 29% YoY
- Charles Schwab call volume above normal and directionally bullish
- Charles Schwab price target raised to $80 from $77 at Deutsche Bank
- Charles Schwab to pilot additional access to overnight trading session