Wells Fargo Profit Tops Views, Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Wells Fargo & Company WFC reported upbeat earnings for its fourth quarter on Friday.

The company posted an EPS of $0.67, compared with $1.38 a year ago and slightly ahead of the consensus of $0.66.
Revenue declined 5.7% to $19.66 billion, missing the consensus of $19.98 billion.

The bank set aside $957 million for credit losses in the latest period after reducing its provisions by $452 million a year ago.

Wells Fargo shares fell 0.2% to close at $44.12 on Tuesday, and lost 0.1% in after-hours trading.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the bank in the recent period.

• Jefferies analyst Ken Usdin downgraded the stock from Buy to Hold on Jan. 17, 2023, and lowered the price target from $49 to $46. This analyst sees around 4% upside in the company’s stock and has an accuracy rate of 59%.
• Piper Sandler’s analyst Scott Siefers downgraded the stock from Overweight to Neutral on Jan. 17, 2023, and cut the price target from $49 to $47. This analyst sees around 6% upside in the company’s stock and has an accuracy rate of 60%.
• Odeon Capital’s analyst Dick Bove upgraded the stock from Hold to Buy on Jan. 10, 2023, with a price target of $51.79. This analyst sees around 17% upside in the company’s stock and has an accuracy rate of 35%.
• Barclays analyst Jason Goldberg maintained an Overweight rating on the stock on Jan. 3, 2023, and increased the price target from $58 to $64. This analyst sees around 45% upside in the company’s stock and has an accuracy rate of 46%.
• Citigroup’s analyst Keith Horowitz maintained a Buy rating on Dec. 21, 2022, and cut the price target from $50 to $48. This analyst sees around 9% upside in the company’s stock and has an accuracy rate of 75%.

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