FICO price target lowered to $1,400 from $1,650 at Wells Fargo

Wells Fargo lowered the firm’s price target on FICO (FICO) to $1,400 from $1,650 to reflect lower peer multiples, while keeping an Overweight rating on the shares. The firm notes FICO delivered a strong Q2 beat, largely driven by an outperformance in B2B scores. Guidance was raised, but remains below Street estimates, due to conservatism, Wells adds, pointing out that FICO is also seeing strong demand for its direct license program.