UBS Downgrades Charles Schwab Corp. (SCHW) to Neutral
Tweet Send to a FriendGet Alerts SCHW Hot Sheet
Price: $19.06 --0%
Rating Summary:
2 Buy, 17 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Rating Summary:
2 Buy, 17 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Trade SCHW Now!
UBS downgraded Charles Schwab Corp. (NYSE: SCHW) from Buy to Neutral but raised its price target from $15 to $17.
The firm comments, "SCHW is up significantly so far this year on spikes in certain interest rates and positive industry flows into equities. While we continue to view SCHW as one of the best fundamental stories in financial services with a multi-year investment horizon, we believe sentiment has gotten a bit ahead of itself. Recent moves in interest rates will not improve fundamentals materially and we are not convinced about broad-based re-risking into equities. We also believe the upcoming business update could disappoint a bit (expenses/limited benefits from recent rate moves)."
For an analyst ratings summary and ratings history on Charles Schwab Corp. click here. For more ratings news on Charles Schwab Corp. click here.
Shares of Charles Schwab Corp. closed at $16.75 yesterday, with a 52 week range of $11.64-$16.94.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The firm comments, "SCHW is up significantly so far this year on spikes in certain interest rates and positive industry flows into equities. While we continue to view SCHW as one of the best fundamental stories in financial services with a multi-year investment horizon, we believe sentiment has gotten a bit ahead of itself. Recent moves in interest rates will not improve fundamentals materially and we are not convinced about broad-based re-risking into equities. We also believe the upcoming business update could disappoint a bit (expenses/limited benefits from recent rate moves)."
For an analyst ratings summary and ratings history on Charles Schwab Corp. click here. For more ratings news on Charles Schwab Corp. click here.
Shares of Charles Schwab Corp. closed at $16.75 yesterday, with a 52 week range of $11.64-$16.94.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
- UPDATE: Exane BNP Paribas Downgrades BlackBerry (BBRY) to Underperform; Analyst Says Profit 'Drying Up'
- First Time Cruisers Pass on Carnival (CCL); Wells Fargo Cuts to Market Perform
Create E-mail Alert Related Categories
Analyst PT Change, DowngradesRelated Entities
UBS
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
