Wells Fargo & Co. Price Target Cut to $50.00 (WFC)
Analysts at Guggenheim reduced their target price on shares of Wells Fargo & Co. (NYSE:WFC) from $54.00 to $50.00 in a research report issued to clients and investors on Monday, StockRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective points to a potential upside of 21.01% from the company’s current price.
WFC has been the subject of a number of other recent research reports. Analysts at UBS AG raised their price target on shares of Wells Fargo & Co. (NYSE:WFC) from $40.00 to $45.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Wells Fargo & Co. (NYSE:WFC) in a research note to investors on Friday. Finally, 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. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $43.19.
Wells Fargo & Co. (NYSE:WFC) traded down 0.65% during mid-day trading on Monday, hitting $41.32. The stock had a trading volume of 20,307,688 shares. Wells Fargo & Co. has a one year low of $31.25 and a one year high of $44.79. The stock’s 50-day moving average is $42.2 and its 200-day moving average is $40.48. The company has a market cap of $219.4 billion and a price-to-earnings ratio of 11.27.
Wells Fargo & Co. (NYSE:WFC) last posted its quarterly 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. Analysts expect that Wells Fargo & Co. will post $3.84 EPS for the current fiscal year.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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