Wells Fargo (WFC – Research Report), the Financial sector company, was revisited by a Wall Street analyst yesterday. Analyst Betsy Graseck from Morgan Stanley maintained a Buy rating on the stock and has a $77.00 price target.
Betsy Graseck’s rating is based on Wells Fargo’s recent progress in resolving regulatory issues, which has been a significant concern for investors. The termination of the CFPB’s 2018 consent order marks a crucial step forward, as it alleviates some of the regulatory pressures and clears a path for potential action by the Federal Reserve regarding the asset cap.
Furthermore, Wells Fargo has shown consistent progress in addressing its legacy issues, as evidenced by the removal of multiple consent orders in recent years. This progress not only demonstrates the company’s commitment to remediation but also suggests a potential reduction in operating losses over time. As Wells Fargo continues to resolve these issues, it is expected to enhance its market position and financial performance, making it an attractive investment opportunity.
Graseck covers the Financial sector, focusing on stocks such as State Street, Wells Fargo, and Citigroup. According to TipRanks, Graseck has an average return of 2.8% and a 46.47% success rate on recommended stocks.
In another report released on April 15, UBS also maintained a Buy rating on the stock with a $83.00 price target.