Phillip Securities analyst Glenn Thum has maintained their bullish stance on WFC stock, giving a Buy rating on October 15.
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Glenn Thum has given his Buy rating due to a combination of factors that highlight Wells Fargo’s strong financial performance and strategic improvements. The company’s earnings for the third quarter of 2025 showed a 9% year-over-year increase, supported by a rise in non-interest income and a significant reduction in provisions. This growth was driven by higher card fees, investment advisory, and brokerage commissions, as well as a notable increase in investment banking fees.
Additionally, Wells Fargo’s strategic position has been strengthened by the removal of the asset cap by the Federal Reserve, allowing the bank to expand its deposit base and lending capabilities. The company has revised its medium-term return on equity target upwards, reflecting its improved financial outlook. Despite potential macroeconomic headwinds that could impact non-interest income growth, the overall outlook remains positive, justifying the Buy rating with an increased target price.
In another report released on October 15, Bank of America Securities also maintained a Buy rating on the stock with a $100.00 price target.