Wells Fargo & Co. Price Target Increased to $45.00 by Analysts at JPMorgan Chase & Co. (WFC)
Equities research analysts at JPMorgan Chase & Co. upped their target price on shares of Wells Fargo & Co. (NYSE:WFC) from $43.50 to $45.00 in a research note issued to investors on Wednesday, Analyst Ratings Network reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 3.90% from the stock’s previous close.
Wells Fargo & Co. (NYSE:WFC) traded up 1.07% during mid-day trading on Wednesday, hitting $43.31. The stock had a trading volume of 23,911,646 shares. Wells Fargo & Co. has a 1-year low of $31.25 and a 1-year high of $44.79. The stock’s 50-day moving average is $42.6 and its 200-day moving average is $40.16. The company has a market cap of $230.0 billion and a price-to-earnings ratio of 11.61. Wells Fargo & Co. also saw unusually large options trading activity on Monday. Stock investors acquired 18,758 call options on the company. This is an increase of 108% compared to the typical daily volume of 9,012 call options.
Wells Fargo & Co. (NYSE:WFC) last announced its earnings results on Friday, July 12th. The company reported $0.98 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.93 by $0.05. The company had revenue of $21.40 billion for the quarter, compared to the consensus estimate of $21.21 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts predict that Wells Fargo & Co. will post $3.84 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Wells Fargo & Co. (NYSE:WFC) in a research note to investors on Tuesday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Wells Fargo & Co. (NYSE:WFC) in a research note to investors on Wednesday, August 28th. They now have a $43.00 price target on the stock.
Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.04.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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