Barclays Increases Wells Fargo & Co. Price Target to $57.00 (WFC)
Equities researchers at Barclays lifted their target price on shares of Wells Fargo & Co. (NYSE:WFC) from $52.00 to $57.00 in a research report issued on Monday, StockRatingsNetwork reports. The firm currently has an “overweight” rating on the stock. Barclays’ price target would indicate a potential upside of 18.55% from the company’s current price.
A number of other analysts have also recently weighed in on WFC. Analysts at Compass Point reiterated a “neutral” rating on shares of Wells Fargo & Co. in a research note on Monday. They now have a $49.00 price target on the stock, up previously from $47.00. Separately, analysts at BMO Capital Markets raised their price target on shares of Wells Fargo & Co. from $48.00 to $53.00 in a research note on Tuesday, April 8th. Finally, 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, April 7th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $47.61.
Shares of Wells Fargo & Co. (NYSE:WFC) traded down 0.58% during mid-day trading on Monday, hitting $47.80. 15,369,961 shares of the company’s stock traded hands. Wells Fargo & Co. has a 52 week low of $36.19 and a 52 week high of $50.49. The stock has a 50-day moving average of $48.03 and a 200-day moving average of $44.99. The company has a market cap of $251.6 billion and a P/E ratio of 11.96.
Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings data on Friday, April 11th. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.96 by $0.09. The company had revenue of $20.60 billion for the quarter, compared to the consensus estimate of $20.60 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. The company’s quarterly revenue was down 3.0% on a year-over-year basis. On average, analysts predict that Wells Fargo & Co. will post $4.05 earnings per share for the current fiscal year.
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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