Charles Schwab Corp. (SCHW) February Metrics Support Favorable Trends - Citi
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Citi analyst William KatzWilliam Katz reiterated a Buy rating and $67.50 price target on Charles Schwab Corp. (NYSE: SCHW) after the company released February metrics ahead of the 3/12 market open demonstrating continued favorable trends, particularly around NNA and trading levels/dynamics.
The analyst stated "While IEA and BDA dipped slightly M/M after initial 1Q21 Jan/Dec pop (see also 1/12: Strong Organic Start To ’21), nonetheless remained at strong levels and running well ahead of our quarterly average estimates published following SCHW’s winter business update (see also 2/3: A Few More Moving Parts But Still Pacing To “Four Buck Chuck” In ’24). CFO commentary released concurrently with Feb metrics indicates strong Retail growth from younger and newer customers as well as substantial rise in margin balances. Maintain Buy. Stock reacting favorably early on 3/12, and we view update as likely positive for Consensus EPS estimates."
Shares of Charles Schwab Corp. closed at $67.65 yesterday.
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