Raymond James analyst David Long raised the firm’s price target on Wells Fargo (WFC) to $84 from $78 and keeps a Strong Buy rating on the shares following the removal of the asset cap. Raymond James believes the medium-to-long term impacts from the asset cap removal will be material, and anticipates positive EPS revisions over the next month due to a larger balance sheet and higher trading and investment banking revenue, the analyst tells investors in a research note. The firm remains bullish on Wells Fargo shares.
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