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UPDATE: Sterne Agee Initiates Coverage on Charles Schwab Corporation with Neutral Rating, $15 PT

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In a report published Friday, Sterne Agee Group initiated coverage on Charles Schwab Corporation (NYSE: SCHW) with a Neutral rating and $15.00 price target.

Sterne Agee noted, “We are initiating coverage of SCHW with a Neutral rating. While we see considerable upside longer-term as solid organic growth continues and interest rates normalize, with limited EPS growth expected for '13 and limited potential for multiple expansion in our view, we believe investors can be patient. The biggest risk we see to our Neutral stance is a faster than anticipated rise in interest rates given the earnings leverage (to both ends of the curve) and stock correlation to the 10-year yield.”

Charles Schwab Corporation closed on Thursday at $13.44.

Latest Ratings for SCHW

DateFirmActionFromTo
Dec 2016Keefe Bruyette & WoodsInitiates Coverage OnOutperform
Nov 2016CitigroupUpgradesNeutralBuy
Oct 2016SunTrust Robinson HumphreyMaintainsHold

View More Analyst Ratings for SCHW
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Posted-In: Sterne Agee GroupAnalyst Color Initiation Analyst Ratings

 

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