Wells Fargo & Co. Price Target Raised to $45.00 at UBS AG (WFC)
UBS AG upped their target price on shares of Wells Fargo & Co. (NYSE:WFC) from $40.00 to $45.00 in a research note issued on Friday, AR Network reports. The firm currently has a “neutral” rating on the stock. UBS AG’s price objective indicates a potential upside of 8.20% from the stock’s previous close.
Shares of Wells Fargo & Co. (NYSE:WFC) traded down 0.05% during mid-day trading on Friday, hitting $41.59. The stock had a trading volume of 20,017,656 shares. Wells Fargo & Co. has a 52-week low of $31.25 and a 52-week high of $44.79. The stock has a 50-day moving average of $42.31 and a 200-day moving average of $40.45. The company has a market cap of $220.8 billion and a P/E ratio of 11.28. Wells Fargo & Co. also was the recipient of unusually large options trading activity on Tuesday. Traders purchased 42,157 call options on the stock. This is an increase of approximately 300% compared to the typical volume of 10,529 call options.
Wells Fargo & Co. (NYSE:WFC) last released its earnings data 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.
A number of other firms have also recently commented on WFC. Analysts at TheStreet reiterated a “buy” rating on shares of Wells Fargo & Co. (NYSE:WFC) in a research note to investors on Friday. Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of Wells Fargo & Co. (NYSE:WFC) in a research note to investors on Friday, September 20th. They set a “hold” rating on the stock. Finally, analysts at Societe Generale initiated coverage on shares of Wells Fargo & Co. (NYSE:WFC) in a research note to investors on Thursday, September 19th. They set a “hold” rating and a $45.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $43.33.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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