Is Wells Fargo Stock Going to $66? 1 Wall Street Analyst Thinks So [Yahoo! Finance]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: Yahoo! Finance
In light of those challenges, Wells Fargo (NYSE: WFC) predicted a 7% to 9% decline in net interest income for the year. However, one analyst sees an upside to the stock after a Q1 earnings report that included a solid beat on the top and bottom lines, even though the stock fell on the report. On Monday, Argus Research lifted its price target on the stock from $57 to $66 and maintained a buy rating. That implies an 18% upside over the next 12 months. More upside seen for Wells Fargo The analyst noted that Q1 earnings topped estimates. Wells reported revenue up 0.6% year over year to $20.9 billion, well ahead of expectations at $18.6 billion. Earnings per share ticked down from $1.23 to $1.20 but were still well ahead of the consensus at $1. Argus noted the expected decline in net interest income this year but said it was bullish on the stock as it expects strong fee revenue to counteract that, forecasting an overall revenue decline of 2%. Can Wells Fargo keep gaining? The
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WFC
News
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- US Fed to meet amid dwindling hopes of summer rate cuts [Yahoo! Finance]Yahoo! Finance
- Cash App's Savings Product Takes on Traditional Banks [Forbes]Forbes
- Wells Fargo Expands Down Payment Grant Program to Help Bridge Homeownership Gap [Yahoo! Finance]Yahoo! Finance
WFC
Earnings
- 4/12/24 - Beat
WFC
Sec Filings
- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- WFC's page on the SEC website