Charles Schwab shares rise 4% on new 'outperform' rating
Charles Schwab shares rose nearly 4% in a single trading session. The move followed Chris Allen of Keefe, Bruyette & Woods assuming coverage of the brokerage, assigning it an 'outperform' recommendation and a price target of $110 per share, which is nearly 14% higher than the current level. Other analysts on the same day reduced price targets for the shares. Benjamin Budish of Barclays reduced his target from $126 to $117 per share, while Michael Brown of UBS lowered his fair value assessment to $125 from $119 per share.
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