These Analysts Revise Their Forecasts On Wells Fargo Following Q2 Earnings

Wells Fargo & Company WFC reported better-than-expected second-quarter financial results.

Wells Fargo reported quarterly EPS of $1.25, beating the consensus of $1.15, with revenues of $20.53 billion, up 21% Y/Y, above the consensus of $20.07 billion.

The company sees 2023 net interest income to be 14% higher than the FY22 level of $45.0 billion, up from prior guidance of 10% higher.

Wells Fargo shares fell 0.3% to close at $43.56 on Friday, but added 0.1% in today’s pre-market trading session.

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

  • Raymond James raised the price target on Wells Fargo from $51 to $52. Raymond James analyst David Long maintained the stock with a Strong Buy rating.
  • Citigroup increased the price target on Wells Fargo from $50 to $52. Citigroup analyst Keith Horowitz maintained a Buy rating.
  • BMO Capital, meanwhile, lowered the price target on Wells Fargo from $54 to $51. BMO Capital analyst James Fotheringham maintained the stock with a Market Perform

 

Now Read This: FB Financial, Home Bancorp And 3 Stocks To Watch Heading Into Monday

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPrice TargetPre-Market OutlookMarketsAnalyst RatingsTrading IdeasforecastsPT Changes
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!