JPMorgan lowered the firm’s price target on Wells Fargo (WFC) to $91 from $99.50 and keeps a Neutral rating on the shares. The firm adjusted targets in the large cap bank group as part of a Q1 preview. The Q1 results “should be good” driven by strong markets revenues, but investment banking activity has slowed recently due to market volatility amid the war, the analyst tells investors in a research note. JPMorgan expects large bank stocks to “remain choppy” near term.
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