Charles Schwab price target raised to $89 from $86 at JPMorgan

JPMorgan raised the firm’s price target on Charles Schwab to $89 from $86 and keeps an Overweight rating on the shares. The firm cites the company’s Q1 earnings beat driven by better net interest income and better cost management. Charles Schwab’s expenses were also “notably better”, primarily driven by compensation, as business efficiency efforts from late 2023 showed through, the analyst tells investors in a research note.