Charles Schwab Analysts Increase Their Forecasts After Upbeat Q2 Results

The Charles Schwab Corporation SCHW reported better-than-expected second-quarter financial results.

Charles Schwab reported a quarterly net revenues decline of 9% Y/Y to $4.66 billion, beating the consensus of $4.61 billion. Adjusted EPS stood at $0.75, down 23% Y/Y, exceeding the consensus of $0.71.

Charles Schwab shares gained 12.6% to close at $66.01 on Tuesday, and added 1.9% in today’s pre-market trading.

These analysts made changes to their price targets on Charles Schwab following earnings announcement.

• Raymond James raised the price target on Charles Schwab from $64 to $77. Raymond James analyst Patrick O'Shaughnessy maintained an Outperform rating.
• Barclays increased the price target on Charles Schwab from $62 to $70. Barclays analyst Benjamin Budish maintained an Equal-Weight rating.
• JMP Securities increased Charles Schwab price target from $73 to $77. JMP Securities analyst Devin Ryan maintained the stock with an Outperform rating.

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