Charles Schwab’s Strategic Shift May Weigh On Stock: ‘Could Significantly Change The Economics That Drive Nearly Half The Company’s Revenue’
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Charles Schwab Corporation (NYSE:SCHW) tanked in early trading on Monday, after several analysts cut their forecasts following the company’s second-quarter results.
Although the company’s shift to a less capital-intensive model could be a positive in the long term, it adds near-term uncertainty that may exert pressure on the stock, according to Piper Sandler.
The Charles Schwab Analyst: Patrick Moley downgraded the rating for Charles Schwab from Overweight to Neutral, while reducing the price target from $80 to $64.
The Charles Schwab Thesis: The company plans to downsize its bank by relying more on third-party banking relationships and is …
Full story available on Benzinga.com
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