Bernstein Upgrades Charles Schwab to “Outperform”; Raises Price Target and Estimates (SCHW)
Early on Monday, analysts at Bernstein upgraded brokerage firm Charles Schwab Corp (SCHW) saying that the company will benefit from rising interest rates and a rebound in retail activity.
The analysts upgraded SCHW to “Outperform” with a new price target of $23. This new valuation suggests a 40% upside to Friday’s closing price of $16.40.
Also, the analysts raised Charles Schwab’s 2013 earnings estimates.
Charles Schwab shares were up 25 cents, or +1.52%, during pre-market trading on Monday. The stock is up about +19% over the past twelve months.
The Bottom Line
Shares of Charles Schwab (SCHW) have a dividend yield of 1.46% based on Friday’s closing price of $16.40 and the company’s annualized dividend payout of 24 cents per share.
Charles Schwab Corp (SCHW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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