Charles Schwab Rises After Morgan Stanley Names it as a Top Pick
2022.04.13 17:20
By Sam Boughedda
Investing.com — Shares of Charles Schwab Corp (NYSE:SCHW) Corp rose 1% at the open Wednesday after Morgan Stanley analyst Michael Cyprys named the company as a “top pick.”
The analyst reiterated an Overweight rating and $132 price target on the stock, telling investors the company’s “stark underperformance” is a surprise and reflects a disconnect from fundamentals as it is among the “most rate sensitive stocks that should benefit from the surge in rate expectations YTD.”
Charles Schwab shares are down 5% for the year to date.
The company “does not have credit risk, and has attractive underlying growth prospects,” added Cyprys.
The analyst elevated the company to a top pick, explaining that its valuation also “appears compelling if looked at through the lens of decomposing its earnings stream.”
