Charles Schwab price target raised to $84 from $82 at JMP Securities

JMP Securities raised the firm’s price target on Charles Schwab to $84 from $82 and keeps an Outperform rating on the shares. Schwab reported solid core trends with a positive exit-rate after strong September momentum around net new assets and customer cash build, the analyst tells investors in a research note. While management did slightly talk down its previous guide of “approaching 3%” net interest margin by the end of 2025 as the rate environment and expectations have shifted lower in recent months, the firm sees a number of positive offsetting factors that should offset both NII and a path of strong earnings acceleration, including business drivers that should benefit from lower interest rates such as rebounding securities lending off depressed levels, acceleration in margin utilization, increasing pledged asset and mortgage lending, and higher retail trading engagement.