UPDATE: Wells Fargo (WFC) PT Raised to $47 as Morgan Stanley Explains the Impact of the Yield Curve Steepening

March 10, 2021 1:17 AM EST
Get Alerts WFC Hot Sheet
Price: $41.99 +5.53%

Rating Summary:
    19 Buy, 20 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 8 | New: 31
Trade Now! 
Join SI Premium – FREE
(Updated - March 10, 2021 6:53 AM EST)

Morgan Stanley analyst Betsy Graseck raised the price target on Wells Fargo (NYSE: WFC) to $47.00 (from $43.00) after the yield curve steepened an additional +20bps since last week.

The analyst maintained an Overweight rating, stating "with the forward curve now implying a 1.82% 10yr
yield by YE2021. WFC is set to benefit as the most asset-sensitive name in our coverage (Exhibit 3). We take our NIM up +2-3bps in 2021-24e as a result. Every 50bp higher 10 yr yield drives our 2021 EPS up 8%."

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change

Related Entities

Morgan Stanley, Wells Fargo