Citi analyst Keith Horowitz has maintained their neutral stance on WFC stock, giving a Hold rating on September 9.
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Keith Horowitz has given his Hold rating due to a combination of factors including the current state of Wells Fargo’s net interest income (NII) expectations and the overall market sentiment. Despite positive sentiment, the stock has underperformed compared to its peers, with limited potential for upward revisions in estimates. This underperformance, combined with the market already pricing in returns above the company’s medium-term targets, suggests a cautious approach.
Furthermore, while there is some optimism regarding expense control and net interest margin (NIM) expansion, these are counterbalanced by expectations of lower balance sheet growth compared to consensus. Consequently, Horowitz sees more attractive risk/reward opportunities in other stocks, leading to the decision to maintain a Hold rating on Wells Fargo’s stock.
According to TipRanks, Horowitz is a 5-star analyst with an average return of 16.0% and a 79.68% success rate. Horowitz covers the Financial sector, focusing on stocks such as Bank of America, M&T Bank, and Ally Financial.
In another report released on September 9, TR | OpenAI – 4o also downgraded the stock to a Hold with a $85.00 price target.