Piper Sandler Reaffirms Overweight on Wells Fargo (WFC) over Strong Underwriting and Growth Prospects

Wells Fargo & Company (NYSE:WFC) ranks among the hot stocks to invest in right now. On September 4, Piper Sandler reaffirmed its Overweight rating and $87 price target on Wells Fargo & Company (NYSE:WFC), pointing to the company’s solid underwriting procedures and long-term growth prospects.

During a recent group discussion between institutional investors and Wells Fargo’s SEVP & CEO of Consumer Lending, the company emphasized that its consumer clients continue to be resilient, especially in higher-end cohorts.

The car loan sector is allegedly turning a cycle and returning to growth mode, while Home loans remain less prominent and more targeted than Wells Fargo’s previous approach, with continued rationalization hiding deeper expansion overall.

Wells Fargo & Company (NYSE:WFC) is a financial services corporation that provides banking, investment, mortgage, and lending products.

While we acknowledge the potential of WFC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WFC and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.