Credit Suisse Upgrades Charles Schwab Corp. (SCHW) to Outperform, 'client sorting will persist, but such risks seem manageable'

Credit Suisse analyst Bill Katz upgraded Charles Schwab Corp. (NYSE: SCHW) from Neutral to Outperform with a price target of $67.50 (from $81.50).

The analyst comments "Though off recent acute bottom, we still see attractive upside to our revised Sum-of-the-Parts (SOTP)-derived $67.50 target price (from $81.50). We expect client sorting will persist, but such risks seem manageable and seemingly close to peaking – based on current forward curves. Central risk to the upgrade would be significant shift in forward curve expectations – overly hawkish backdrop will keep alive client sorting while overly dovish landscape will ignite peak of cycle EPS worries and raise rotation risk. Other risks to the upgrade would include elevated consensus EPS expectations and adverse regulatory changes."

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 $56.68 yesterday.

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