JPMorgan analyst Kenneth Worthington sees the combination of the Schwab Broker and Bank "meaningfully reducing" the company's earnings volatility from equity market and interest rate declines. This lower earnings volatility is being underappreciated by the investment community, Worthington tells investors in a research note. The analyst says lower equity market and interest rate risks "complement a business model that already runs with limited credit and virtually no product performance risk." He believes this enhances Schwab's value and keeps an Overweight rating on the shares with a $59 price target.