These Analysts Revise Their Forecasts On Wells Fargo Following Q2 Earnings
Portfolio Pulse from Lisa Levin
Wells Fargo & Company (NYSE:WFC) reported better-than-expected Q2 results with an EPS of $1.25 and revenues of $20.53 billion, up 21% Y/Y. The company also revised its 2023 net interest income guidance to be 14% higher than the FY22 level of $45.0 billion. Post earnings, Raymond James and Citigroup raised their price targets on Wells Fargo to $52, while BMO Capital lowered it to $51.
July 17, 2023 | 12:18 pm
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Wells Fargo reported strong Q2 results and revised its 2023 net interest income guidance upwards. Analysts from Raymond James and Citigroup raised their price targets, while BMO Capital lowered theirs.
Wells Fargo's better-than-expected Q2 results and upward revision of its 2023 net interest income guidance are positive signals for the company's performance. This has led to a revision of price targets by analysts, indicating their confidence in the company's future performance. However, the mixed direction of the price target revisions suggests some uncertainty in the market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100