Truist has adjusted its outlook on Charles Schwab (SCHW, Financial), reducing the price target from $85 to $84 while maintaining a Buy rating on the stock. This change comes in response to the latest first-quarter results and insights shared by the company's management.
The firm cited the need for a revised model, influenced by the current economic landscape, as the reason for this adjustment. Truist now factors in a lower earnings multiple to align with the heightened economic uncertainty.
Despite the lowered price target, the continued Buy rating suggests confidence in the company's long-term potential, even amid the challenges posed by the broader economic conditions.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 19 analysts, the average target price for Charles Schwab Corp (SCHW, Financial) is $87.21 with a high estimate of $103.00 and a low estimate of $65.00. The average target implies an upside of 14.52% from the current price of $76.15. More detailed estimate data can be found on the Charles Schwab Corp (SCHW) Forecast page.
Based on the consensus recommendation from 23 brokerage firms, Charles Schwab Corp's (SCHW, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Charles Schwab Corp (SCHW, Financial) in one year is $87.33, suggesting a upside of 14.68% from the current price of $76.15. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Charles Schwab Corp (SCHW) Summary page.
