TD Cowen raised the firm’s price target on Wells Fargo (WFC) to $93 from $90 and keeps a Hold rating on the shares. The firm noted they posted a core EPS beat in 3Q25 on a reserve release and stronger than expected fee revenue. Most notably, management introduced a new medium-term ROTCE target of 17-18%. While results this quarter were favorable and management reiterated its focus on growth, further execution will be key to demonstrating sustained progress toward these ambitious targets.
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