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Robert W. Baird Believes Wells Fargo (WFC) Won’t Stop Here

Robert W. Baird analyst David George maintained a Buy rating on Wells Fargo (WFCResearch Report) on January 3 and set a price target of $50.00. The company’s shares closed last Thursday at $59.05, close to its 52-week high of $60.30.

According to TipRanks.com, George is a 5-star analyst with an average return of 13.9% and a 74.2% success rate. George covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Capital One Financial, and Huntington Bancshares.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Wells Fargo with a $61.62 average price target, implying a 3.5% upside from current levels. In a report issued on January 18, Evercore ISI also maintained a Buy rating on the stock with a $65.00 price target.

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Based on Wells Fargo’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $18.83 billion and net profit of $5.12 billion. In comparison, last year the company earned revenue of $19.32 billion and had a net profit of $3.22 billion.

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Founded in 1852, California-based Wells Fargo & Co. is a diversified financial services company, which is engaged in banking, insurance, investments, mortgage, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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