Phillip Securities Upgrades Wells Fargo & Company (WFC)

​Wells Fargo & Company (NYSE:WFC) is one of the Best Undervalued Stocks to Buy Under $100. Recently, on May 7, Phillip Securities upgraded Wells Fargo & Company (NYSE:WFC) to Buy from Accumulate with a $98 price target. Earlier on April 30, J.P. Morgan lowered the firm’s price target on the stock from $91 to $86.5 and maintained a Neutral rating on the shares.

​The ratings follow the company’s fiscal Q1 2026 earnings, reported on April 14. During the quarter, the company reported $21.45 billion in revenue, reflecting 6.44% year-over-year growth but below the consensus of $345 million. On the bright side, the GAAP EPS of $1.60 topped expectations by $0.02.

​Management noted growing diluted earnings per share by 15% year-over-year, reflecting improved profitability over the last year. Moreover, the revenue growth was attributed to a 5% increase in net interest income and an 8% increase in non-interest income.

The company has maintained 2026 net interest income guidance at roughly $50 billion and noninterest expense guidance at $55.7 billion. Separately, J.P. Morgan lowered the price target as part of the firm’s overall adjustment to the US large cap banks.

​Wells Fargo & Company (NYSE:WFC) is a leading multinational financial services institution founded in 1852 and headquartered in San Francisco, California. The company provides banking, investment, mortgage, treasury, and consumer/commercial finance services, while serving large corporate and institutional clients in more than 35 countries.

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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