Charles Schwab (NYSE:SCHW) falls 2.1% after UBS downgrades the stock to sell, saying the online broker faces headwinds to balance sheet growth from "yield sensitive customers, and increasing regulatory burden, and limited rate upside," analyst Brennan Hawken wrote in a note.
Sees revenue headwinds coinciding with upward pressure on expenses.
Hawken cuts his price target to $42 from $48 and lowers 2019 EPS estimate for Schwab to $2.65.
Previously: Schwab January core net new assets of $15.1B (Feb. 14)
Subscribe for full text news in your inbox