UPDATE: J.P. Morgan Reiterates Neutral Rating, Raises PT on Charles Schwab Corp. Following 2Q13 EPS Report

In a report published Wednesday, J.P. Morgan analyst Kenneth B. Worthington reiterated a Neutral rating on Charles Schwab Corp. SCHW, and raised the price target from $15.00 to $19.00. In the report, J.P. Morgan noted, “Schwab reported 2Q13 EPS of $0.18, falling modestly short of the $0.19 consensus on what we think was slightly higher compensation expense, higher share count and a modestly lower NIM. Key metrics were solid if not good, but mgmt highlighted the company's particular sensitivity to short term rates, which we think comes at some surprise to some investors. We maintain our Neutral rating despite solid fundamentals, as we see much good interest news priced into the stock.” Charles Schwab Corp. closed on Tuesday at $21.00.