Goldman Sachs lowered the firm’s price target on Wells Fargo (WFC) to $91 from $92 and keeps a Buy rating on the shares. The company reported slightly lower than expected Q2 core earnings, though the post-earnings stock decline is “overdone” as its long-term investment story remains intact, the analyst tells investors in a research note. Wells Fargo continues to invest in fee-based businesses and likely has more room to do so following the removal of the asset cap, the firm added.
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