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Charles Schwab Cut to a “Neutral” at Macquarie (SCHW)

Brokerage operator The Charles Schwab Corporation ( SCHW ) on Friday saw its rating and price target cut by analysts at Macquarie Group.

The firm said it downgraded SCHW from "Outperform" to "Neutral" while cutting its price target from $16 to $13. That new target suggests a 10% upside to the stock's Thursday closing price of $11.80

Charles Schwab shares were unchanged in premarket trading Friday. The stock has fallen more than 31% year-to-date.

The Bottom Line

Shares of Charles Schwab ( SCHW ) have a 2.03% dividend yield, based on last night's closing stock price of $11.80. The stock has technical support in the $10 price area. If the shares can firm up, we see overhead resistance around the $14 price level.

The Charles Schwab Corporation ( SCHW ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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