Rochdale Securities Downgrades Wells Fargo (WFC) to Sell
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Price: $88.82 +0.81%
Rating Summary:
28 Buy, 20 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
28 Buy, 20 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Dick Bove of Rochdale Securities downgraded Wells Fargo (NYSE: WFC) from Neutral to Sell. The analyst reduced his price target on the banking stock from $32.50 to $22.
With Wells Fargo shares trading down 1.3 percent to $26.50, Bove's new price target represents potential downside of about 17 percent.
According to post at Business Insider, Bove cited the slowing economy, a negative regulatory environment and new meaningful SIFI buffers for large banks.
For more ratings news on Wells Fargo click here and for the rating history of Wells Fargo click here.
With Wells Fargo shares trading down 1.3 percent to $26.50, Bove's new price target represents potential downside of about 17 percent.
According to post at Business Insider, Bove cited the slowing economy, a negative regulatory environment and new meaningful SIFI buffers for large banks.
For more ratings news on Wells Fargo click here and for the rating history of Wells Fargo click here.
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