Following a Bloomberg news report that regulators may be in the final stages of their review on whether to lift the six-year-old asset-cap on Wells Fargo, BofA said the firm views the potential removal of the asset-cap as a “significant positive catalyst event for the stock.” If the removal were to occur, in addition to improving investor sentiment, it could accelerate execution on growing its corporate banking business, helping to enable the achievement of management’s 15% ROTCE target, says the firm, which has a Buy rating and $70 price target on Wells Fargo shares.
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