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Charles Schwab is Yahoo Finance Plus’ investment idea of the day

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Yahoo Finance’s Jared Blikre reports details on Yahoo Finance’s Investment idea of the day.

Video Transcript

ALEXIS CHRISTOFOROUS: All right, finally want to get to our Yahoo Finance Plus Investment Idea of the Day. I understand you've got a bullish call there on Charles Schwab after the firm's earnings release.

JARED BLIKRE: That's right. This is a brokerage firm. And I'm going to show you a one-year chart here. Very impressive price action, pumping even 100.9%. And just off of its highs here, not the biggest deal in the world. And that's because we saw a lot of the value in cyclical play just kind of fallen by the wayside over the last six weeks.

So this is a fundamental call by Argus Research. And we can see they're keeping-- they're reaffirming their $77 target. And that's after that strong trading revenues in the second quarter. Everybody's looking ahead to the third. But here's what we got. On July 16, Schwab reported adjusted EPS-- and I'm going to skip ahead a little bit-- aided by the TD Ameritrade acquisition. We want to see that that is working out. It might be stuck here. That's all right. I will say the stock price action looking good. And it's lining up with another opening in the value cyclical play today. So bullish on Charles Schwab here.

KRISTIN MYERS: All right, thanks so much, Jared. Looking great from the studios. We'll see you from the New York Stock Exchange a little bit later on.