Wells Fargo (WFC) PT Raised to $80 at RBC Capital, Citing 'Healthy Credit Quality'

RBC Capital analyst Gerard Cassidy raised the price target on Wells Fargo (NYSE: WFC) to $80.00 (from $72.00) while maintaining a Sector Perform rating.

The analyst commented: "Overall, WFC reported better-than-expected fourth quarter results, driven by a lower-than-expected effective tax rate, a lower-than-expected provision for credit losses and higher-than-expected net interest income, partially offset by higher-than-expected noninterest expense and lower-than-expected noninterest income. Additionally, its credit quality which is healthy, improved in the quarter as nonaccrual commercial real estate mortgages tied to offices declined 11% from the 3Q24.

We revised our 2025 and 2026 EPS estimates to $5.85 and $6.75, from $5.50 and $6.45, respectively. Our revised EPS estimates primarily reflect stronger net interest income, strong noninterest income and lower expense, partially offset by a higher provision. We revised our price target to $80 from $72."

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