Nomura Securities Maintains a 'Neutral' on Wells Fargo (WFC); Key Take-Aways From Mgmt Meeting
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Price: $88.82 +0.81%
Rating Summary:
28 Buy, 20 Hold, 1 Sell
Rating Trend:
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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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Nomura Securities maintains a 'Neutral' on Wells Fargo (NYSE: WFC).
Nomura analyst, Brian Foran, says, "Key take-aways following relatively upbeat meetings with WFC’s CEO, CFO, Head of Wholesale and Head of Mortgage. Not a lot has changed in the past month apart from a more difficult net interest margin outlook. Deposit growth seems very strong and the loan growth outlook remains stable. Recent market data suggests pre-putback origination revenues in 2H11 could be similar to 2H10. Management said there is no change to its capital and cost save outlooks. Post our meetings, we made a small positive revision in 2011 (to $2.80 from $2.75) and negative beyond (2012 falls to $3.00 from $3.20; 2013 to $3.50 from $3.75)."
For more ratings news on Wells Fargo click here and for the rating history of Wells Fargo click here.
Shares of Wells Fargo closed at $23.36 yesterday.
Nomura analyst, Brian Foran, says, "Key take-aways following relatively upbeat meetings with WFC’s CEO, CFO, Head of Wholesale and Head of Mortgage. Not a lot has changed in the past month apart from a more difficult net interest margin outlook. Deposit growth seems very strong and the loan growth outlook remains stable. Recent market data suggests pre-putback origination revenues in 2H11 could be similar to 2H10. Management said there is no change to its capital and cost save outlooks. Post our meetings, we made a small positive revision in 2011 (to $2.80 from $2.75) and negative beyond (2012 falls to $3.00 from $3.20; 2013 to $3.50 from $3.75)."
For more ratings news on Wells Fargo click here and for the rating history of Wells Fargo click here.
Shares of Wells Fargo closed at $23.36 yesterday.
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