Wells Fargo Stock Receives ‘Buy’ Ratings from 53% of Analysts



Analysts’ ratings

Wall Street ratings for Wells Fargo (WFC) have remained unchanged for the last two months, as a majority of the analysts are still bullish on the stock. Of the 32 analysts covering Wells Fargo stock, 17 provided a “strong buy” or “buy” recommendation. The stock received a “hold” stance from ten analysts, and the remaining five analysts have a “sell” or “strong sell” view on WFC stock.

With Wall Street’s one-year forward price target of $62.02, WFC stock has an upside of ~5.7% from its current market price of $58.69.

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Peers’ analyst recommendations

Wall Street analysts expect most of Wells Fargo’s (WFC) competitors to have more significant potential to enhance shareholders’ returns. Among Wells Fargo’s major peers, Citigroup (C), Goldman Sachs (GS), and Bank of America (BAC) are expected to gain in double digits in the next year.

Bank of America (BAC) is the most heavily favored in the peer group, with 21 of the 29 analysts covering the stock recommending a “strong buy” or “buy.” The remaining eight analysts recommend a “hold.” Wall Street’s price target of $34.57 implies 11.9% growth.

Citigroup (C) also has strong ratings, with 20 of 28 analysts recommending a “strong buy” or “buy,” seven recommending a “hold,” and one analyst recommending an “underperform.” Citigroup’s target price of $83.52 implies a 15.4% upside over the next 12 months. Citigroup has witnessed average credit growth and improved wealth and advisory performance in recent quarters.

Of the 26 analysts covering Goldman Sachs (GS) stock, 14 recommend a “strong buy” or “buy,” 11 recommend a “hold,” and one analyst recommends a “sell.” Goldman Sachs’ target price of $276.23 implies 17.5% growth.

Wells Fargo, Bank of America, Citigroup, and Goldman Sachs comprise ~20.5% of the Fidelity MSCI Financials Index ETF (FNCL).


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