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According to Credit Suisse, Charles Schwab shares are attractive after the fall of Silicon Valley Bank and Signature Bank. Analyst Bill Katz upgraded the brokerage firm’s rating from neutral to outperforming, saying it was time for investors to “take advantage of the sharp drop in share prices.” Shares are down nearly 32% this year. “While we may not have caught stocks at an extreme level of fear, we nonetheless see an attractive risk-reward ratio,” Katz wrote in a note on Wednesday. Shares of Charles Schwab fell 24% last week, along with shares of regional banks, as traders feared they would have to sell their bonds early at a big loss to cover deposit withdrawals like Silicon Valley Bank. However, CEO Walt Bettinger, in an interview with CNBC’s Sarah Eisen on The Exchange, said that Charles Schwab is still experiencing a “significant” influx of assets. Shares of Charles Schwab rose 9% on Tuesday after falling more than 11% on Monday as part of a broader recovery in financial stocks. It is down 3% this week. SCHW 5D Mountain Charles Schwab Shares, 5-day Analysts’ price target of $67.50 from $81.50 earlier means the stock could rise another 19% from Tuesday’s closing price. Shares rose almost 2.9% in premarket trading on Wednesday. The analyst said that meant the stock had “missed down.” “[We] expect [net new asset] The NNA story will remain robust and equity ratios will recover quickly as we look into 2024-2025, with current value giving investors the opportunity to become a high-quality, large-cap secular beneficiary,” Katz wrote. — Michael Bloom of CNBC.
Credit: www.cnbc.com /
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