These Analysts Boost Their Forecasts On Charles Schwab Following Better-Than-Expected Q3 Results

Core Insights - Charles Schwab Corporation reported third-quarter adjusted earnings per share of $1.31, a 70% year-over-year increase, surpassing the analyst consensus estimate of $1.25 [1] - Quarterly sales reached $6.135 billion, reflecting a 27% year-over-year growth, exceeding the expected $6.009 billion [1] Financial Performance - The company experienced record revenue and earnings per share driven by strengthening organic growth trends and increasing adoption of wealth solutions [2] - Client transactional sweep cash increased by $13.5 billion compared to the second quarter, which contributed to a reduction in higher-cost bank funding by $12.9 billion, bringing it down to $14.8 billion at quarter-end [2] Analyst Ratings and Price Targets - Deutsche Bank analyst Brian Bedell maintained a Buy rating on Charles Schwab and raised the price target from $119 to $120 [5] - Keefe, Bruyette & Woods analyst Kyle Voigt also maintained an Outperform rating and increased the price target from $109 to $111 [5]