On Oct 15, major Wall Street analysts update their ratings for $Wells Fargo & Co (WFC.US)$, with price targets ranging from $62 to $75.
Morgan Stanley analyst Betsy Graseck maintains with a buy rating, and maintains the target price at $69.
J.P. Morgan analyst Vivek Juneja maintains with a hold rating, and maintains the target price at $63.5.
Citi analyst Keith Horowitz upgrades to a buy rating.
Barclays analyst Jason Goldberg maintains with a buy rating, and adjusts the target price from $66 to $75.
Evercore analyst John Pancari maintains with a buy rating, and adjusts the target price from $68 to $71.
Furthermore, according to the comprehensive report, the opinions of $Wells Fargo & Co (WFC.US)$'s main analysts recently are as follows:
The bank's third-quarter report indicated better-than-expected outcomes in several areas, including fees, expenses, provision, and tax rate. Additionally, the continuation of share buybacks contributed positively to the bank's performance.
The company's Q3 earnings surpassed expectations, yet its pre-provision net revenue was slightly below consensus due to reduced net interest income. This was balanced to some extent by robust fees and stringent expense management. Moreover, the management highlighted that improved deposit mix shift trends and a securities restructuring have positioned the company nearer to the net interest income trough.
Following Wells Fargo's Q3 outcomes, there is a positive revision of the EPS estimates for 2025 and 2026, reflecting a 4% increase to $5.38 and $6.56 from previous figures. The sustained improvement in Wells Fargo's fundamental narrative and management's effective setting of NII expectations for the year-end at levels that were better than anticipated are the main reasons for maintaining an optimistic outlook on the shares post Q3 results.
Here are the latest investment ratings and price targets for $Wells Fargo & Co (WFC.US)$ from 10 analysts:
Note:
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