Charles Schwab Stock Drops on Downgrade

The majority of analysts still lean bullish on SCHW

Deputy Editor
Mar 30, 2023 at 11:19 AM
facebook X logo linkedin

Morgan Stanley downgraded Charles Schwab Corp (NYSE:SCHW) to "equal weight" from "overweight," and cut its price target to $68 citing an "extended earnings recovery timeline." SCHW is dropping in response, down 4.4% at $52.81 at last check, adding to its 36.4% year-to-date deficit. 

The security slipped to a Mar. 13, two-year low of $45 at the height of the bank sector selloff, after careening below long-termsupport at the $75 level as well as its 200-day moving average. Now, some pressure appears to be forming at the $56 level. 

Of the 22 analysts in coverage, seven carried a "hold" or worse rating coming into today, with the majority still leaning bullish. The equity could see some more bear notes, as the 12-month consensus price target of $80.42 is a hefty 51.4% premium to current levels. 




Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI