Here’s Why Jefferies Remains a Buy on Wells Fargo & Company (WFC)

​Wells Fargo & Company (NYSE:WFC) is one of the Ridiculously Cheap Stocks to Buy According to Wall Street Analysts. On March 25, David Chiaverini from Jefferies initiated coverage of Wells Fargo & Company (NYSE:WFC) with a Buy rating and a $100 price target.

The firm noted that Wells Fargo is starting a multi-year recovery in return on tangible common equity after regulators lifted its asset cap in June 2025 and ended key consent orders. The firm highlighted that the removal of the asset cap allows the company to compete equally with its peers. It also ends prior growth restrictions from a 2018 Federal Reserve action. Chiaverini noted that this transition supports future balance sheet expansion by removing limits on assets and deposits. Moreover, Jefferies anticipates lower operating costs from reduced compliance burdens and an upward trend in fee income as the bank pursues growth opportunities.

​Separately, on March 26, Wells Fargo & Company (NYSE:WFC) announced that its AI-powered virtual assistant called Fargo has processed over 1 billion customer interactions since its 2023 launch. Moreover, the bank also reported exceeding 33 million mobile active users last month, highlighting strong digital adoption.

​Wells Fargo & Company (NYSE:WFC) provides consumer banking, commercial banking, investment, and mortgage services across the United States. Its products include checking and savings accounts, credit cards, auto loans, small business lending, and wealth management solutions.

While we acknowledge the risk and potential of WFC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WFC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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