Charles Schwab (SCHW) sell-off creates buying chance - Deutsche Bank

Deutsche Bank analyst Brian Bedell reiterated a Buy rating and $73.00 price target on Charles Schwab Corp. (NYSE: SCHW), saying Tuesday's sell-off provides a buying opportunity.

The analyst commented, "On Tuesday, SCHW shares dropped nearly 5% (as of this writing) vs. a ~2% drop in the BKX banking index and a slight drop in the S&P 500. We think this was catalyzed by SCHW's debt offering announced this morning, which rekindled some investor concerns around the pace of client cash sorting, liquidity, and capital levels - each of which we continue to believe are overblown. We would use the sell off as a buying opportunity and reiterate our Buy rating."

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 $56.46 yesterday.

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