Schwab raised by Citi on more balanced risk/reward

|By:, SA News Editor

Charles Schwab (NYSE:SCHW) upgraded to neutral from sell by Citigroup analyst William Katz based on a stress test against increased volatility and a "more decisive market downturn."

Says upgrade reflects a more balanced risk/reward.

Broker/dealer group has been "significantly de-rated, suggesting much negative sentiment already discounted even when factoring in our pro-forma estimates," Katz says.

Source: Bloomberg First Word.

Analyst ratings: 12 buys; 5 holds; 2 underperform/sells.

Previously: Schwab falls, TD Ameritrade rises after UBS actions (Nov. 19)

Previously: Schwab October new brokerage accounts rise 12% M/M (Nov. 14)

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