Goldman Sachs Removes Wells Fargo (WFC) from Conviction Buy List

September 10, 2012 7:27 AM EDT
Get Alerts WFC Hot Sheet
Price: $46.47 +0.41%

Rating Summary:
    18 Buy, 21 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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Goldman Sachs removed Wells Fargo (NYSE: WFC) from its Conviction Buy List but maintained a Buy rating and $37 price target.

With shares up 40 percent over the past 12-months, versus 20% for the S&P 500, upside is limited. They see 6% upside to their price target, or 8% including dividends.

Goldman said Wells is still relatively well positioned in the current environment and as such maintain their Buy rating.

Regions Financial (NYSE: RF) was added to the Conviction Buy List.

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 $35.00 yesterday.

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Goldman Sachs Conviction Buy List, Goldman Sachs, Standard & Poor's, Dividend, Wells Fargo