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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