Bond.az - Citizens has reaffirmed its Market Outperform rating and $120 price target on Charles Schwab Corp. (NYSE:SCHW) after the company's institutional investor day. The stock currently trades at $89.44.
Citizens attended Schwab's 2026 event in Texas and expressed increased confidence in the company's growth algorithm. Management highlighted the platform's scale: $12.6 trillion in client assets, 47 million accounts, and 16,000 independent RIAs.
Management positioned Schwab as a growth company with a leading platform, citing $155.6 billion market cap and 21.2% revenue growth. The low PEG ratio of 0.34 suggests strong value.
Regarding AI risks, Citizens noted that Schwab presented a framework where AI would be a net positive, improving personalization and advisor productivity while lowering costs.
In other recent news, Schwab reported core net new assets of $7.2 billion for April and opened 437,000 new brokerage accounts. Barclays and Raymond James raised price targets to $127 and $137 respectively. CEO Rick Wurster emphasized AI as a key accelerant for wealth services under $1 million accounts.
