TD Cowen analyst Bill Katz lowered the price target on Charles Schwab Corp. (NYSE: SCHW) to $108.00 (from $128.00) while maintaining a Buy rating.

The analyst commented: "Lower Estimates & Target; Much Negativity Seems Priced In; Despite solid 1Q beat (here) and strong business exit velocity into 2Q, the stock dropped ~7.5% on 4/16, lagging peers. Trim '26-27E, lower 12M price target to $108, or 16x revised '27, vs. 18x prior. Affirm Buy; Mixed implications for peers - re-ignites investor watch on client cash monetization broadly. ETOR a standout (here). Believe ETF-related impact on IVZ/BLK overdone; bullish for AMG."