Wells Fargo & Co. Price Target Cut to $45.00 by Analysts at Sanford C. Bernstein (WFC)
Investment analysts at Sanford C. Bernstein decreased their price target on shares of Wells Fargo & Co. (NYSE:WFC) from $46.00 to $45.00 in a note issued to investors on Monday, Stock Ratings Network reports. The firm currently has an “outperform” rating on the stock. Sanford C. Bernstein’s price objective would suggest a potential upside of 7.78% from the company’s current price.
WFC has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Wells Fargo & Co. in a research note to investors on Monday. They now have a $46.00 price target on the stock, up previously from $45.00. Separately, analysts at Morgan Stanley raised their price target on shares of Wells Fargo & Co. to $48.00 in a research note to investors on Monday. They now have an “equal weight” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Wells Fargo & Co. in a research note to investors on Monday. They now have a $47.00 price target on the stock, down previously from $48.00. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $43.81.
Wells Fargo & Co. (NYSE:WFC) traded up 0.77% on Monday, hitting $41.75. The stock had a trading volume of 17,182,574 shares. Wells Fargo & Co. has a 52 week low of $31.25 and a 52 week high of $44.79. The stock’s 50-day moving average is $41.75 and its 200-day moving average is $40.75. The company has a market cap of $220.2 billion and a P/E ratio of 10.90. Wells Fargo & Co. also saw unusually large options trading on Friday. Stock investors acquired 40,806 put options on the stock. This is an increase of 175% compared to the average volume of 14,830 put options.
Wells Fargo & Co. (NYSE:WFC) last announced its earnings results on Friday, October 11th. The company reported $0.99 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.97 by $0.02. The company had revenue of $20.50 billion for the quarter, compared to the consensus estimate of $21.00 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The company’s quarterly revenue was down 3.5% 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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