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

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 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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