10 Best and Cheap Stocks to Buy Now

7. Wells Fargo & Company (NYSE:WFC)

FWD P/E Ratio: 13.23

Number of Hedge Fund Holders: 88

Wells Fargo & Company (NYSE:WFC) is one of the 10 Best and Cheap Stocks to Buy Now. On June 18, Raymond James analyst David Long raised the price target on Wells Fargo & Company (NYSE:WFC) from $78 to $84 while keeping a Buy rating. The rating upgrade comes after the Federal Reserve on June 3 removed the limit on growth in total assets which it imposed in 2018.

Analyst Long believes the medium-to-long-term impacts of lifting this cap will be material, enabling Wells Fargo & Company (NYSE:WFC) to grow its balance sheet and benefit from higher trading and investment banking revenue. He also expects positive earnings per share revisions over the next month and a 4% increase in 2026 EPS. Wells Fargo & Company (NYSE:WFC)’s CEO Charlie Scharf described the removal of the asset cap as a pivotal milestone in the bank’s transformation journey.

Wells Fargo & Company (NYSE:WFC) is a financial services company with around $1.9 trillion in assets. Its services range from banking, investment, and mortgage products and consumer and commercial banking.