Charles Schwab Corp (NYSE: SCHW) has been upgraded to “Outperform” from “Market Perform” at Keefe, Bruyette & Woods, as the firm cited potentially strong earnings growth during the period between 2026 and 2030.
KBW noted that progress had been made on repayment of supplemental borrowings and cash sorting had decelerated materially.
“With greater confidence in a path forward from here, and with the Fed looking increasingly likely to cut rates in the coming months, our upgrade comes ahead of an expected sweep cash inflection,” KBW analyst Kyle Voigt wrote in a note to clients.
Stock Performance
The shares of Charles Schwab Corp (SCHW) closed 0.05% ($0.04) higher at $73.24 in New York on Monday, as they snapped a two-day streak of losses.
The online brokerage’s total market cap now stands at $133.895 billion.
The shares of Charles Schwab Corp (SCHW) went down 17.37% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).
The company’s shares have risen 6.45% so far this year.
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