A generic image of a pen, a calculator and sheets
Markets

Charles Schwab’s Target, Estimates Boosted at Goldman Sachs (SCHW)

Brokerage operator The Charles Schwab Corporation( SCHW

) on Monday saw its price target and earnings estimates raised by analysts at Goldman Sachs.

The firm said it boosted its estimates for SCHW through 2012, noting the company is executing its business well within a difficult environment.

Goldman maintained its "Neutral" rating and set a new $17 price target on SCHW, which implies a 17% upside to the stock's Friday closing price of $14.51.

Charles Schwab shares rose 9 cents, or +0.6%, in premarket trading Monday.

The Bottom Line

We had removed shares of SCHW from our "recommended" list Sept.15, 2008, when the shares traded at $22.70. The company has a dividend yield of 1.65%, based on Friday's closing stock price of $14.51. The stock does have technical support in the $11.50-$12 price area. If the shares can firm up, we see overhead resistance around the $15-$16 price levels. We would remain on the sidelines for now.

The Charles Schwab Corporation( SCHW ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 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.

Created by Dividend.com


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

In This Story

SCHW

Other Topics

Stocks