a morgan stanley analyst slashed earnings estimates for charles schwab because of the impact of clients moving cash to higher yielding options and uncertainty as to when this behavior might stop with “limited visibility” on this and other variables including the regulatory landscape “we are moving to the sidelines” analyst michael j cyprys wrote in a march 30 research note he downgraded the brokerage firm to equalweight from overweight and cut his target price for charles schwab ticker schw to 68 from 99 shares currently trade around 52 below their 52week peak of 89