Charles Schwab rises after Citi upgrades to 'buy'
ReutersApr 2, 2025 10:20 AM
Shares of brokerage firm Charles Schwab SCHW.N rise 1.4% to $78.78 in premarket trading
Citi Research upgrades SCHW to "buy" from "neutral"; raises PT to $102 from $85, implying a 31.3% upside to stock's last close
Brokerage sees accelerating net new assets (NNA) growth in 2025 as SCHW ramps up investments on brokers, branches and marketing
Return to NNA growth while maintaining balance sheet discipline should result in valuation expansion over time - Citi
Brokerage also expects improving shareholder returns given SCHW's capital generation capacity
16 of 23 brokerages rate the stock "buy" or higher, 5 "hold" and 2 "sell"; median PT is $91 - data compiled by LSEG
As of last close, SCHW shares up 4.9% YTD
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