Wells Fargo (WFC) PT Lowered to $98 at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods analyst David Konrad lowered the price target on Wells Fargo (NYSE: WFC) to $98.00 (from $101.00) while maintaining a Market Perform rating.
The analyst commented: "We attribute today's sharp underperformance (WFC -5.7%) to the 1Q26 NII miss and a FY26 guide that was unchanged despite higher for longer rate expectations. Lower Street/KBW estimates post 1Q26 should help to de-risk the stock which has lagged significantly YTD (-12%), and this should improve the risk/reward setup as WFC makes its way to its 17-18% ROTCE target. Maintain Market Perform."