Evercore ISI analyst John Pancari has reiterated their bullish stance on WFC stock, giving a Buy rating on April 8.
John Pancari has given his Buy rating due to a combination of factors that suggest Wells Fargo is poised for long-term growth despite some near-term challenges. He acknowledges a reduction in earnings estimates for 2025 and 2026, primarily due to a less certain macroeconomic environment and anticipated Federal Reserve rate cuts. However, he remains optimistic about Wells Fargo’s prospects because of the bank’s unique drivers that could lead to revenue growth and improved returns.
Wells Fargo’s strategic business investments, efficiency improvements, and active capital deployment are expected to contribute to its financial performance. Additionally, the easing regulatory pressures are likely to support the bank’s share performance over time. While there are some concerns regarding loan growth and deposit mix dynamics, the bank’s management remains confident in its credit outlook, supported by resilient consumer and corporate financial health.
Pancari covers the Financial sector, focusing on stocks such as Wells Fargo, Truist Financial, and Capital One Financial. According to TipRanks, Pancari has an average return of -7.1% and a 37.30% success rate on recommended stocks.
In another report released on April 8, Piper Sandler also upgraded the stock to a Buy with a $77.00 price target.