JMP Securities analyst Devin Ryan upgraded Charles Schwab to Outperform from Market Perform with a $73 price target. Recent data suggests some stabilization over the last quarter in the company’s cash soring, the analyst tells investors in a research note. The cash sorting headwind has been the most extreme for Schwab, and therefore any stabilization will provide “some relief” in the stock’s valuation, contends JMP. The firm also thinks downward earnings are behind the company following its Q2 guidance. It believes Schwab “represents an interesting trade” into the low $70 per share range.
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