Charles Schwab Gets Price Target Cuts By Analysts Following Upbeat Q1 Earnings

Charles Schwab Corp SCHW posted better-than-expected earnings for its first quarter on Monday.

The company reported Q1 net revenues of $5.11 billion, up 10%, versus the consensus of $5.15 billion. Adjusted EPS stood at $0.93, up 21% Y/Y, exceeding the consensus of $0.90.

Charles Schwab paused its buyback program in light of the recent events within the U.S. banking sector and the resulting regulatory uncertainty.

Charles Schwab shares gained 3.9% to close at $52.77 on Monday.

These analysts made changes to their price targets on Charles Schwab following earnings announcement.

• B of A Securities cut the price target on Charles Schwab from $53 to $51. B of A Securities analyst Craig Siegenthaler maintained the stock with an Underperform.
• Deutsche Bank slashed the price target on Charles Schwab from $75 to $72. Deutsche Bank analyst Brian Bedell maintained a Buy rating.
• JP Morgan lowered the price target on Charles Schwab from $86 to $85. JP Morgan analyst Kenneth Worthington maintained the stock with an Overweight rating.

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