tiprankstipranks
Trending News
More News >

Wells Fargo’s Regulatory Progress and Asset Cap Removal Boosts Buy Rating

Wells Fargo’s Regulatory Progress and Asset Cap Removal Boosts Buy Rating

In a report released today, Betsy Graseck from Morgan Stanley maintained a Buy rating on Wells Fargo (WFCResearch Report), with a price target of $77.00.

Confident Investing Starts Here:

Betsy Graseck has given her Buy rating due to a combination of factors surrounding Wells Fargo’s recent progress in resolving regulatory issues. The termination of the 2015 consent order by the OCC marks a significant milestone, as it clears a major hurdle for the potential removal of the Federal Reserve’s asset cap on Wells Fargo. This development is seen as a positive step forward, indicating that the bank is making substantial progress in addressing its past compliance issues.
Furthermore, the removal of multiple consent orders under CEO Charlie Scharf’s leadership demonstrates momentum in Wells Fargo’s remediation efforts. The bank’s guidance on reducing operating losses and its ability to move past economic and reputational challenges are expected to enhance its market position. The anticipated removal of the asset cap could lead to an increase in earnings per share, making Wells Fargo an attractive investment opportunity.

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.

Report an Issue