Charles Schwab Shares Downgraded at Citigroup (SCHW)
Citigroup reported on Monday that they have lowered their rating on brokerage company, Charles Schwab Corp(SCHW).
The firm has downgraded SCHW from “Neutral” to “Sell,” and has given the company a $14 price target. This price target suggests a -20% drop from the stock’s current price of $16.89.
Analysts have lowered their rating on the company due to a lack of operating leverage for 2013.
Charles Schwab shares were down 37 cents, or -2.19% during premarket trading Monday. The stock has increased 38% in the past year.
The Bottom Line
Shares of Charles Schwab Corp(SCHW) have a 1.42% yield, based on Friday’s closing price of $16.89.
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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