** Brokerage Charles Schwab SCHW.N reported a near 37% jump in adjusted first-quarter profit on Thursday, driven by upbeat performance in its asset management and trading businesses
** Average recommendation of 23 brokerages is "buy", median PT is $89 - data compiled by LSEG
BROKERAGE ON THE RISE
** Citigroup ("buy", PT: $102) expects continued progress in the coming quarters due to decreasing supplemental funding, better transactional cash trends, net new assets growth and securities maturities/interest
** Raymond James ("outperform", PT: $91) says co's market volatility is boosting trading, which helps offset lower margins and potential Fed rate cuts in 2025
** Jefferies ("buy", PT: $88) says "cash levels have been better than expected and will likely be more volatile in April, given the normal tax seasonality, with potential offsets from client de-risking during heightened market uncertainty"
** TD Cowen ("buy", PT: $95) sees strong momentum in new business trends and demographics, operating leverage and rapidly improving balance sheet flexibility
** "We think a building likelihood will be the emergence of a third-party sweep deposit program" - TD Cowen
(Reporting by Akriti Shah in Bengaluru)
((akriti.shah@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.