Wells Fargo price target raised to $60 from $57 at Compass Point

Compass Point raised the firm’s price target on Wells Fargo to $60 from $57 and keeps a Neutral rating on the shares. The firm is raising its FY24 and FY25 core EPS estimates to $5.45 and $5.60, from $5.16 and $5.50, respectively, noting that its higher FY24 estimate reflects higher fee income and a lower provision, partially offset by lower core net interest income, or NII.