Charles Schwab shares hit record high following upbeat results
Shares of Charles Schwab SCHW.K gapped up to hit a record intraday high early on Fri, with the stock last up ~2%, after the financial services co reported a nearly 60% increase in Q2 profit
The stock rose as much as 4.7% to $97.50, surpassing previous record in February 2022
Results were helped by robust trading activity, with investor uncertainty tied to U.S. President Donald Trump's tariff announcements sparking volatility earlier this year. Increased asset management fees also helped the firm's results
Analyst recommendations on the stock include 19 "strong buy" or "buy" ratings, three "hold" ratings and one "sell" rating, per LSEG, with median PT of $102
Including the session move, SCHW is up about 28% YTD compared with a roughly 7% gain in the S&P 500 .SPX
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