TD Cowen Lifts The Charles Schwab Corporation (SCHW) Price Target on Robust Q3 Revenue and Earnings Growth

Charles Schwab Corporation (NYSE:SCHW) is one of billionaire Daniel Sundheim’s stock picks with tremendous upside potential. On October 17, analysts at TD Cowen reiterated a ‘Buy’ rating on Charles Schwab Corporation (NYSE:SCHW) and raised the price target to $134 from $129.Best bank stocks for 2021

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The research firm echoed the company’s third-quarter results, in which revenue was up 27% year over year to $6.1 billion and net income increased 70% to $2.4 billion, or $1.31 per share. The better-than-expected results underscore strong management execution, balance sheet flexibility, and reduced perception risk.

Consequently, TD Cowen expects Charles Schwab to achieve a return on tangible equity of 38% in 2026 and 40% in 2027. It also views the company as both defensive and offensive, given its balance sheet levers to offset the impact of interest rate cuts.

Charles Schwab Corporation (NYSE:SCHW) is a financial services company that provides a wide range of brokerage, banking, and financial advisory services to individuals and institutions. Its services include brokerage accounts, investment products, and financial planning, as well as banking services such as deposits and lending.

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Disclosure: None. This article is originally published at Insider Monkey.

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