Piper Sandler analyst Patrick Moley raised the firm’s price target on Charles Schwab to $85 from $78 and keeps an Overweight rating on the shares. The firm notes the company reported a penny beat to consensus and all around solid metrics for March. April tax seasonality and the upcoming migration of Charles Schwab’s last tranche of legacy AMTD customers in May will likely weigh on transactional cash balances and NNA growth in the short term, but overall, Piper feels Charles Schwabis very close to the end of its cash sorting and AMTD related customer attrition issues.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SCHW:
- SCHW Earnings: Charles Schwab’s Q1 Earnings Miss Estimates
- Options Volatility and Implied Earnings Moves Today, April 15, 2024
- Options Volatility and Implied Earnings Moves This Week, April 15 – April 19, 2024
- SCHW Upcoming Earnings Report: What to Expect?
- Charles Schwab price target raised to $78 from $75 at Piper Sandler
