Phillip Securities upgraded Wells Fargo to Accumulate from Neutral with a price target of $65, up from $60.83. The firm says the bank’s earnings are being supported by non-interest income. It expects Wells’ Q4 earnings to improve by 10% excluding one-time expenses from growth in non-interest income, particularly the continued recovery in investment banking fees and higher gains from trading activities, and lower expenses and provisions.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WFC:
- Why Wells Fargo Stock (NYSE:WFC) Isn’t a Buy Near All-Time Highs
- Wells Fargo price target raised to $68 from $66 at Argus
- Wells Fargo price target raised to $71 from $68 at Evercore ISI
- Wells Fargo price target raised to $62 from $60 at Piper Sandler
- Wells Fargo price target raised to $75 from $66 at Barclays