Investors can expect limited upside in Charles Schwab looking ahead to 2025, according to Credit Suisse. Analyst Bill Katz downgraded Charles Schwab to neutral from outperform, saying the stock is trading at a fair value after its outperformance this year. Charles Schwab shares are down just 5% this year, better than the near 19% decline in the S & P 500. The analyst's $84 price target, up from $80 previously, represents a little more than 5% upside from Monday's closing price. Meanwhile, the firm has resolved its cash sorting angst, which refers to the practice when some clients move cash out of investment funds into money funds. "We downgrade our rating to Neutral (from Outperform), the shift centers on two aspects: 1) believe "client sorting" angst is fully dissipated (see 10/25 report for further details); and 2) even as we look to '25E in an effort to gauge EPS following recent key revenue/expense/balance sheet guidance post the Fall Business Update on October 27th, there is not enough residual upside to stay the course, we believe," Katz wrote in a Tuesday note. To be sure, there are some risks to the analyst's rating change, such as a greater-than-expected hawkish Federal Reserve, or investors who are willing to pay more for the stock. —CNBC's Michael Bloom contributed to this report.