Charles Schwab Stock Surges on Another Upgrade

Bank stock Charles Schwab Corporation (NYSE:SCHW) was last seen up 5.7% to trade at $74, after an upgrade from Morgan Stanley to "overweight" from "equal weight." The firm called it a defensive play amid recession fears, but also threw in a price-target cut to$76 from $91, while no fewer than three other analysts slashed their price objectives as well. This bull note comes less than a week after Citigroup upgraded SCHW to "buy," citing growth potential as the firm "shifts to offense." Of the 23 analysts in ...