Evercore Partners Reiterates Overweight on WFC

Evercore Partners Reiterates overweight Rating on Wells Fargo & Company WFC. According to the report, "At 1.7x TBV, WFC trades at a premium to largecap peers (1.2x TBV), reflecting the strength and higher quality of its franchise. We expect WFC to retain its premium valuation as it continues to integrate its WB acquisition and extract further expense and revenue synergies." WFC has a $40 Price Target and closed yesterday at $28.41 a share.