Analyst Richard Ramsden of Goldman Sachs maintained a Buy rating on Wells Fargo, reducing the price target to $97.00.
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Richard Ramsden’s rating is based on Wells Fargo’s demonstrated strength across consumer and business sectors, particularly as they enter the holiday season with increased spending. The company is poised for revenue growth and improved returns on tangible common equity (ROTCE) following the lifting of the asset cap, with a focus on expanding their consumer banking returns through growth in cards and auto business. Additionally, Wells Fargo aims to enhance its corporate and investment banking operations, aspiring to become a top 5 investment bank by leveraging strong customer relationships.
Furthermore, the firm anticipates continued loan growth into the fourth quarter and 2026, with a strategic plan to expand their deposit base through active marketing efforts. Efficiency improvements are also expected, with artificial intelligence playing a significant role over time. On the capital front, Wells Fargo prioritizes organic business growth while remaining open to acquisitions, alongside ongoing share buybacks and dividends. The economic outlook remains favorable, with strong consumer spending, stable employment, and benign credit conditions, which could be further bolstered by lower interest rates supporting commercial lending growth.
In another report released on December 9, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $104.00 price target.
WFC’s price has also changed moderately for the past six months – from $76.460 to $88.890, which is a 16.26% increase.