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Equities researchers at BMO Capital Markets raised their target price on shares of Wells Fargo & Co. (NYSE:WFC) from $48.00 to $53.00 in a research report issued on Tuesday, AnalystRatings.Net reports. BMO Capital Markets’ price target points to a potential upside of 8.92% from the company’s current price.

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 48.66 on Tuesday. Wells Fargo & Co. has a one year low of $36.19 and a one year high of $50.49. The stock’s 50-day moving average is $47.79 and its 200-day moving average is $44.86. The company has a market cap of $256.0 billion and a price-to-earnings ratio of 12.74.

Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings results on Monday, January 13th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. The company had revenue of $20.70 billion for the quarter, compared to the consensus estimate of $20.63 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts expect that Wells Fargo & Co. will post $4.04 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs raised their price target on shares of Wells Fargo & Co. from $47.00 to $51.00 in a research note on Monday. Separately, analysts at Atlantic Securities upgraded shares of Wells Fargo & Co. from an “underweight” rating to a “neutral” rating in a research note on Monday, March 24th. They now have a $53.00 price target on the stock, up previously from $48.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Wells Fargo & Co. in a research note on Friday, February 28th. They now have a $48.00 price target on the stock. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Wells Fargo & Co. has an average rating of “Hold” and an average target price of $47.00.

Wells Fargo & Company is a bank holding company. It has three operating segments: Community Banking, Wholesale Banking and Wealth, and Brokerage and Retirement.

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