Wells Fargo (WFC) stock was a hot topic among analysts on Wednesday as many cut their price targets for the shares following the financial company’s latest earnings report.
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Let’s dive into the analyst price target cuts for WFC stock below:
- Five-star Bank of America Securities analyst Ebrahim Poonawala cut his price target for WFC stock to $95 from $107, representing a potential 16.28% upside. He also reiterated a Buy rating for the shares.
- Five-star Barclays analyst Jason Goldberg reduced his price target for the stock to $108 from $113, suggesting a possible 32.19% upside for the stock. He also maintained a Buy rating for the stock.
- Five-star KBW analyst Christopher McGratty lowered his price target for WFC stock to $98 from $101, implying a potential 19.95% upside for the shares. He also kept a Hold rating for the stock.
- Five-star Piper Sandler analyst Scott Siefers slashed his price target for the stock to $94 from $100, representing a possible 15.06% upside for the shares. He also stuck with a Buy rating for the stock.
- Four-star Morgan Stanley analyst Manan Gosalia dropped his price target for WFC stock to $97 from $100, suggesting a potential 18.73% upside for the shares. He also reiterated a Hold rating for the stock.
Poonawala cited Wells Fargo’s net interest margin contraction of 13 basis points quarter-over-quarter as “the real sticker shock” in his updated coverage of the company. This was the catalyst for the price target cut and also saw the analyst lower his Fiscal 2026 EPS estimate by 2% and his Fiscal 2027 EPS estimate by 4%.
Wells Fargo Stock Movement Today
Wells Fargo stock recovered slightly in pre-market trading on Wednesday, following a 5.7% fall yesterday. The stock was down 11.91% year-to-date and 27.7% over the past 12 months.
Is Wells Fargo Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Wells Fargo is Moderate Buy, based on 10 Buy and four Hold ratings over the past three months. With that comes an average WFC stock price target of $96.57, representing a potential 18.2% upside for the shares.
