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Benzinga
Benzinga
Business
Anusuya Lahiri

Charles Schwab's Crypto Plans Add Fuel To Post-Earnings Rally

Schwab Charles Schwab SCHW Crypto Goldman Sachs JP Morgan
Charles Schwab

Charles Schwab (NYSE:SCHW) shares gained on Monday after the company reported stronger-than-expected second-quarter results on Friday, surpassing analyst consensus estimates for both adjusted earnings per share and revenue.

The robust performance has prompted leading Wall Street analysts, including those from JP Morgan and Goldman Sachs, to re-rate the stock and raise their price forecasts, citing strong fundamentals, increased trading activity, and strategic growth initiatives, including the upcoming launch of Bitcoin and Ethereum trading services.

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