Charles Schwab Corporation (NYSE:SCHW) reported strong results for the first quarter and has “broad monetization opportunities ahead,” according to JPMorgan analyst Kenneth Worthington.
The Charles Schwab Analyst: Worthington maintained an Overweight rating, while raising the price target from $128 to $131.
The Charles Schwab Thesis: The company reported net revenues of $6.5 billion and adjusted pre-tax margins of 51.4%, Worthington said.
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Trading revenue remained strong, growing to $1.09 billion in the first quarter from $1.07 billion in the previous quarter, with total daily average trade growth of 20% sequentially, he added.
Despite robust trade volumes, revenue per trade declined to $1.80 due to increased client uncertainty.
Total core net new assets came in at $140 billion and net interest …