Wells Fargo price target raised to $83 from $73 at Truist

Truist raised the firm’s price target on Wells Fargo (WFC) to $83 from $73 and keeps a Buy rating on the shares as part of a broader research note on U.S. Banks. The firm’s Truist FIG Conference this week saw several main themes emerge for the banks, including a better tone around loan growth and client conversations along with optimism that the $100B asset threshold and the unsatisfactory regulatory ratings could both ease, leading to more M&A over time, the analyst tells investors in a research note. The firm further notes that while it is mindful of tariff risk, it is still seeing very benign or even improving credit, while commercial real estate has gone from a credit headache a year ago to a growth headache today.