Piper Sandler raised the firm’s price target on Wells Fargo (WFC) to $85 from $75 and keeps an Overweight rating on the shares after the Federal Reserve announced that Wells Fargo is no longer subject to the asset cap that has loomed large over the bank since 2018 and led to a complete overhaul of senior management, the BOD, and operations in that time. This means that the bank has indeed met all the requirements for a lift, including improving its governance and risk management program, as well as completion of a third-party review of these improvements and the Fed’s own reviews.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
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 raised to $90 from $83 at BofA
- Wells Fargo’s Growth Prospects Brighten with Early Asset Cap Removal and Increased ROTCE Target
- Wells Fargo price target raised to $88 from $72 at Evercore ISI
- Wells Fargo price target raised to $80 from $75 at Keefe Bruyette
- Wells Fargo’s Growth Prospects Brighten with Asset-Cap Removal: Buy Rating Reaffirmed
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue