Nomura Securities Maintains a 'Neutral' on Wells Fargo (WFC); 4Q Results
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Price: $88.22 -0.68%
Rating Summary:
28 Buy, 20 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 22 | New: 20
Rating Summary:
28 Buy, 20 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 22 | New: 20
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Nomura Securities maintains a 'Neutral' on Wells Fargo (NYSE: WFC) price target raised $1 to $30.
Analyst, Brian Foran, said, "Following 4Q results, we raise our estimates slightly for Wells Fargo, from $2.95 to $3.00 in 2012 and from $3.25 to $3.30 in 2013. We remain a little below consensus on net interest income risk. That said, 4Q was in line to slightly better than consensus expectations and, thus, consensus revisions likely will be neutral to slightly positive. This is a welcome change for a stock where consensus estimates had been falling since July of last year. The main positive was the net interest margin, up 5bp sequentially to 3.89%, when we had expected it to be down. The main negatives were expenses and credit."
For an analyst ratings summary and ratings history on Wells Fargo click here. For more ratings news on Wells Fargo click here.
Shares of Wells Fargo closed at $29.83 yesterday.
Analyst, Brian Foran, said, "Following 4Q results, we raise our estimates slightly for Wells Fargo, from $2.95 to $3.00 in 2012 and from $3.25 to $3.30 in 2013. We remain a little below consensus on net interest income risk. That said, 4Q was in line to slightly better than consensus expectations and, thus, consensus revisions likely will be neutral to slightly positive. This is a welcome change for a stock where consensus estimates had been falling since July of last year. The main positive was the net interest margin, up 5bp sequentially to 3.89%, when we had expected it to be down. The main negatives were expenses and credit."
For an analyst ratings summary and ratings history on Wells Fargo click here. For more ratings news on Wells Fargo click here.
Shares of Wells Fargo closed at $29.83 yesterday.
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