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Bernstein Upgrades Charles Schwab to “Outperform”; Raises Price Target and Estimates (SCHW)

By
March 4th, 2013

Bernstein Upgrades Charles Schwab to "Outperform"; Raises Price Target and Estimates (SCHW)

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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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.