UPDATE: BMO Capital Markets Raises PT to $15 on Charles Schwab, Maintains Outperform
BMO Capital Markets reiterates its Outperform rating on Charles Schwab (NYSE: SCHW) and raises its price target to $15 from from $14 as company's core trends look favorable amid a challenging business environment.
BMO Capital Markets says, "SCHW reported 4Q11 EPS of $0.13, which is in line with our estimate, consensus, and the company's guidance range provided in its pre-announcement last month. ... We view the decent growth in net new assets as being offset by lower interest earning assets. ...We are lowering our 2012 and 2013 EPS estimates by $0.05 each to $0.65 and $0.90, respectively, owing to lower interest earning assets and lower expected trading activity."
SCHW closed at $12.02 per share on Wednesday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.