Wells Fargo (WFC) is evoking mixed responses from the financial community. On the positive side,
Investors have been heavily searching the company, with a belief that the stock is likely to
revalue higher in anticipation of asset cap lifting. Wall Street
analysts are bullish on this financial services stock currently and the bank also had a solid Q2 with earnings beating estimates. On the other hand, the company faces a government
probe on anti-money laundering and sanctions, and has qualities of a risk given its lower loan growth and declining revenues. Despite these negatives, its
stock continues to deliver impressive returns with over 50% return in the last 12 months, prompting an analyst to suggest its
stock could go to $66.
Jefferies downgraded WFC to hold while maintaining that the easy money has been made. The bank is also prioritizing cost control, as seen in its intention to cease renting credit cards
Wells Fargo WFC News Analytics from Fri, 12 Jan 2024 08:00:00 GMT to Sun, 18 Aug 2024 21:20:33 GMT -
Rating 0
- Innovation -4
- Information 4
- Rumor -3
