UPDATE: ISI Group Raises PT to $17 on Charles Schwab

ISI Group raises its price target $1 to $17 on Buy-rated Charles Schwab

on good February metrics. ISI Group notes, "SCHW's metrics were stronger than expected in net new assets but below our estimates in trading. Daily average trades of 500k were up 7% in Feb. vs. Jan. and we estimate average revenue trades were up 7%, below our 10% growth forecast and also below rises of 9% at AMTD and 16% at ETFC. Core net new client assets of $9.3bn in Feb. (which exclude $12bn inflow from a mutual fund clearing client) implies an annualized client asset organic growth rate of 6.4%, up from 5.0% in Jan., and net new assets are tracking >10% above our $22bn forecast for 1Q12." SCHW closed at $14.64 a share on Wednesday.