TD Cowen has increased its price target for The Charles Schwab Corporation stock to $135 from $134, maintaining a Buy rating, according to a note cited on January 14. The firm stated it remains most constructive on Traditional Asset Managers and is taking a more selective approach with a focus on higher-conviction names.
Earlier, on January 5, Raymond James analysts also reiterated a Buy rating for Charles Schwab and raised their price target from $110 to $114. Analysts estimate the company can withstand net margin pressure from potential Federal Reserve interest rate cuts, due to recent reductions in high-cost funding exposure and the ability to reinvest maturing securities at higher yields.
The stock is currently rated a strong Buy by consensus, with 1-year price target estimates suggesting nearly 18% upside. Charles Schwab operates as a savings and loan holding company providing wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally.