FICO price target lowered to $2,300 from $2,600 at Wells Fargo

Wells Fargo lowered the firm’s price target on FICO (FICO) to $2,300 from $2,600 and keeps an Overweight rating on the shares. The firm says it awaits further clarity from the FHFA following Director Bill Pulte’s tweets that the GSEs would accept Vantage Score 4.0 and incentivize lenders who use both VS and FICO with better pricing. It’s unclear if FICO is still mandated by the GSEs, Wells adds.