Wells Fargo & Co. PT Raised to $60.00 (WFC)
Research analysts at FBR Capital Markets raised their target price on shares of Wells Fargo & Co. (NYSE:WFC) from $50.00 to $60.00 in a report released on Monday. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ price target would indicate a potential upside of 13.21% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Macquarie downgraded shares of Wells Fargo & Co. from a “neutral” rating to an “underperform” rating in a research note on Monday, June 30th. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Wells Fargo & Co. in a research note on Tuesday, June 17th. They now have a $56.00 price target on the stock, up previously from $53.00. Finally, analysts at Nomura initiated coverage on shares of Wells Fargo & Co. in a research note on Wednesday, May 14th. They set a “buy” rating and a $60.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $50.68.
Wells Fargo & Co. (NYSE:WFC) opened at 53.00 on Monday. Wells Fargo & Co. has a 1-year low of $40.07 and a 1-year high of $53.08. The stock’s 50-day moving average is $51.43 and its 200-day moving average is $48.27. The company has a market cap of $279.2 billion and a P/E ratio of 13.10.
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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