These Analysts Increase Their Forecasts On Wells Fargo After Better-Than-Expected Q3 Earnings
Portfolio Pulse from Avi Kapoor
Wells Fargo reported better-than-expected Q3 earnings with a GAAP EPS of $1.42, surpassing the consensus of $1.28. Revenue slightly missed expectations, falling 2% to $20.37 billion. Analysts have adjusted their price targets for Wells Fargo, with Evercore ISI Group raising it to $71, Piper Sandler to $62, and RBC Capital maintaining it at $61. The company expects a 9% decline in net interest income for 2024.
October 14, 2024 | 6:10 pm
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Wells Fargo's Q3 earnings exceeded expectations with a GAAP EPS of $1.42. Despite a slight revenue miss, analysts have raised their price targets, indicating positive sentiment. The stock rose 2.6% following the announcement.
Wells Fargo's better-than-expected earnings and subsequent analyst price target increases suggest a positive short-term impact on the stock price. The stock's 2.6% rise post-announcement reflects investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100