These Analysts Revise Price Targets On Wells Fargo After Q1 Results

Wells Fargo & Company WFC reported better-than-expected results for its first quarter on Friday.

Wells Fargo reported first-quarter FY23 revenue growth of 17% year-over-year to $20.73 billion, beating the consensus of $20.07 billion. The company posted an EPS of $1.23, compared with $0.91 a year ago and beating the consensus of $1.13.

Wells Fargo shares fell 0.1% to close at $39.64 on Friday and added 0.1% in today’s pre-market trading session.

These analysts made changes to their price targets on Wells Fargo following earnings announcement.

• Citigroup cut the price target on Wells Fargo from $52 to $50. Citigroup analyst Keith Horowitz maintained a Buy rating.
• Raymond James raised the price target on Wells Fargo from $47 to $48. Raymond James analyst David Long maintained a Strong Buy rating.

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