BofA analyst Craig Siegenthaler raised the firm’s price target on Charles Schwab (SCHW) to $88 from $86 and keeps an Underperform rating on the shares after the company reported a core earnings beat that benefited from robust client engagement and a higher net interest margin. While the firm acknowledges that 6% account growth reacceleration is “a positive,” it adds that this significantly lags Schwab’s public comps such as Robinhood (HOOD) and Interactive Brokers (IBKR) and the firm is skeptical about Schwab’s ability to attract users to its platform from the likes of Robinhood and eToro (ETOR) or the crypto-native digital exchanges such as Coinbase (COIN).
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