Wells Fargo price target raised to $68 from $64 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Wells Fargo to $68 from $64 and keeps a Buy rating on the shares. The firm cites the company’s Q3 earnings beat and notes that while the bank’s pre-provision net revenue came in 1% below consensus on lower net interest income, this was partially offset by stronger fees and expense discipline, the analyst tells investors in a research note. Wells Fargo management also indicated that because of better deposit mix shift trends and a securities restructuring, the company is now closer to net interest income trough, Goldman added.