Goldman Sachs analyst Richard Ramsden raised the firm’s price target on Wells Fargo to $49 from $46 and keeps a Buy rating on the shares after the company reported quarterly results. The firm said that while Wells Fargo reiterated 2023 NII and expense guidance, it believes the guidance appears conservative. Goldman added that the results and guidance lead it to increase its 2023 PPNR estimate by 3%.
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