Raymond James Raised the PT on Wells Fargo (WFC), Keeps a Buy Rating on the Stocks

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.

Raymond James Raised the PT on Wells Fargo (WFC), Keeps a Buy Rating on the Stocks

A team of bankers in suits, discussing the success of the company’s banking products.

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.

While we acknowledge the potential of WFC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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