If markets rally into year-end, SCHW could challenge 2023 highs. It appears to us that public companies own 12% of Charles Schwab. It's hard to say for sure but this suggests they have entwined business interests. This might be a strategic stake, so it's worth watching this space for changes in ownership. Looking ahead, Blostein expects Schwab’s net interest margin (NIM) to expand meaningfully, modeling 270 bps in 2025, 283 bps in 2026, and 306 bps in 2027. The analyst noted Schwab is well-positioned to benefit from securities reinvestment and a growing PAL loan portfolio, which rose 41% Y/Y. In cyclical rotation analysis, Schw stock price forecast benefits from renewed investor interest in diversified financial services. Sector rotation into brokerage stocks could lift SCHW’s relative strength index above