Wells Fargo profit beats forecasts as provisions shrink; shares rise
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Wells Fargo (WFC) PT Raised to $67 at Citi
October 14, 2024 8:27 AM EDTCiti analyst Keith Horowitz raised the price target on Wells Fargo (NYSE: WFC) to $67.00 (from $63.00) while maintaining a Neutral rating.
The analyst comments "Coming into the print, WFCs NII was the primary focus but a 4Q24 guide was better than feared and helped... More
Wells Fargo (WFC) PT Raised to $75 at Barclays
October 14, 2024 5:58 AM EDTBarclays analyst Jason Goldberg raised the price target on Wells Fargo (NYSE: WFC) to $75.00 (from $66.00) while maintaining a Overweight rating.
The analyst comments "EPS was ahead as fees, expenses, provision and tax rate were better than expected and share buyback persisted. NII/NIM... More
Wells Fargo (WFC) PT Raised to $71 at Evercore ISI
October 14, 2024 5:54 AM EDTEvercore ISI analyst John Pancari raised the price target on Wells Fargo (NYSE: WFC) to $71.00 (from $68.00) while maintaining a Outperform rating.
THe analyst comments "Remain constructive as earnings outlook relatively de-risked & trends poised to strengthen in 2025. Coming out of WFCs 3Q results, we are positively revising our 2025 and 2026 EPS estimates by 4% to $5.38 and $6.56 from $5.16 and $6.31. Our FY24 NII forecast is revised slightly lower, net of the 3Q miss, and now reflects a 9.3%... More
JPMorgan Reiterates Neutral Rating on Wells Fargo (WFC)
October 14, 2024 5:42 AM EDTJPMorgan analyst Vivek Juneja reiterated a Neutral rating and $63.50 price target on Wells Fargo (NYSE: WFC).
The analyst comments "Wells Fargo posted mixed core 3Q EPS of $1.39, reported was $1.42. Key unknown in our view is when net interest income (NII) ex-markets will bottom as it is the key driver of revenues. NII ex-markets fell sizably further qoq... More
