Jefferies initiates coverage on Charles Schwab Corp. (NYSE: SCHW) with a Buy rating and a price target of $35.00.

Analyst Daniel Fannon comments, "SCHW represents one of the premier asset gathering franchises within all of financial services. The combination of the absolute benefit as well as the immediacy of the impact from higher rates coupled with ongoing organic growth potential represent a compelling investment backdrop, in our view."

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 $27.10 yesterday.