Wells Fargo’s WFC first investor day in twelve years was conspicuous by the absence of business unit profitability goals. In addition, the company did not offer any insights into how it planned to adapt to anticipated regulatory changes.
Wells Fargo is known for its low cost funding platform and dominant market share in less fragmented markets. Moreover the organization has also considerably improved its distribution breadth and depth over the last couple of years. Delinquency roll rates have declined and early stage delinquencies have improved across the country.
Analysts at Collins Stewart believe that leverage and profitability targets have been understated with room for upward movement. The rating for Wells Fargo is Buy, and the price target has been set nearly $7 higher than the current trading price, at a level of $39.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in