BofA lowered the firm’s price target on Wells Fargo (WFC) to $95 from $107 and keeps a Buy rating on the shares. Net interest margin contraction of 13 basis points quarter-over-quarter “came as the real sticker shock,” raising further doubts around the ROTCE improvement thesis, the analyst tells investors. Following Wells’ Q1 report, BofA lowered its FY26 and FY27 EPS estimates 2% and 4%, respectively, and lowered its assigned multiples on diminished EPS visibility.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WFC:
- Wells Fargo price target lowered to $94 from $100 at Piper Sandler
- Wells Fargo removed from ‘US 1 List’ at BofA
- AI Models Turn More Positive on Wells Fargo as Profitability and Capital Strength Improve
- Wells Fargo price target lowered to $108 from $113 at Barclays
- Wells Fargo Earnings Call Signals Confident Growth Path