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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