Goldman Sachs analyst Richard Ramsden maintains $Wells Fargo & Co (WFC.US)$ with a buy rating, and adjusts the target price from $65 to $64.
According to TipRanks data, the analyst has a success rate of 66.4% and a total average return of 12.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Wells Fargo & Co (WFC.US)$'s main analysts recently are as follows:
The expectation is that net interest incomes will likely persist in their decline in the third quarter, averaging a 4% decrease due to delayed deposit repricing and continued modest loan growth, which is predicted to more than offset fixed asset repricing. It is anticipated that net interest income will only begin to improve in the second quarter of 2025. Additionally, while concerns regarding charge-offs, especially in credit card and commercial real estate sectors, have lessened recently, the possibility of banks continuing to increase their reserves remains.
Interest rate reductions are underway, with expectations of a further 150 basis points decrease through to mid-2025 as observed by analysts. Modeling the trajectory for net interest margins (NIM) can be challenging; however, generally, a swifter pace of rate reductions tends to be favorable for NIM at midcap banks, with more varied effects on large cap banks.
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