Collins Stewart Reiterates Buy Rating On Charles Schwab After Earnings (SCHW)

Analysts at Collins Stewart put out a company update on Charles Schwab SCHW today reiterating their Buy rating and $21.00 price target. The broker reported earnings on Friday prior to the opening bell. The company reported Q3 EPS of $0.10 vs. consensus of $0.09. The analysts wrote, "We remain positive on SCHW, based on a 12 month look, but are concerned about the stock in the near term, as we believe the challenging environment will weigh on the shares." Despite reiterating their Buy rating, the analysts lowered their EPS estimates on SCHW to $0.90 from $0.95 for 2011. During today's trading session, SCHW shares have jumped 2.89% to $14.93. Volume has been on the heavy side.