Citi analyst Keith Horowitz maintains $Wells Fargo & Co (WFC.US)$ with a hold rating, and adjusts the target price from $63 to $67.
According to TipRanks data, the analyst has a success rate of 75.8% and a total average return of 14.5% 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:
Post Q3 report, Wells Fargo's earnings surpassed expectations due to favorable outcomes in fees, expenses, provision, and tax rate, coupled with the continuation of share buybacks.
The bank's Q3 earnings surpassed expectations. Despite net interest income falling short of consensus by 1%, this was somewhat compensated by increased fee income and stringent expense management. The company's management has also suggested that improved trends in deposit mix shifts and a restructuring of securities are leading the firm towards a more favorable position concerning net interest income.
Following Wells Fargo's Q3 outcomes, there is a positive revision of the EPS estimates for 2025 and 2026, reflecting a 4% increase to the forecasted earnings. The anticipation post Q3 results remains favorable as the fundamental narrative of improvement for Wells Fargo continues, and the management has effectively established a new expectation for Net Interest Income towards the year-end that is more encouraging than initially anticipated.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
