Wells Fargo (WFC) Upgraded to ‘Buy’ with $98 Price Target

With an annual dividend yield of 2.45%, Wells Fargo & Company (NYSE:WFC) is included among the 12 Best Blue Chip Dividend Stocks to Buy Now.

Wells Fargo (WFC) Upgraded to 'Buy' with $98 Price Target

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Wells Fargo & Company (NYSE:WFC) provides a diversified set of banking, investment, and mortgage products and services, as well as consumer and commercial finance.

On May 7, Phillip Securities upgraded Wells Fargo & Company (NYSE:WFC) from ‘Accumulate’ to ‘Buy’, while assigning the stock a price target of $98. The target represents an upside of almost 30% from the current price levels.

Wells Fargo & Company (NYSE:WFC) reported mixed results for its Q1 last month, beating profit estimates but falling behind revenue forecasts. The company increased its diluted earnings per share by 15%, revenue by 6%, loans by 11%, and deposits by 7% compared to a year ago. The bank expects total net interest income of approximately $50 billion in full-year 2026.

Wells Fargo & Company (NYSE:WFC) also declared a quarterly dividend of $0.45 per share on April 28 and currently boasts an annual dividend yield of 2.38%. WFC was also recently included in our list of the 12 High Dividend Stocks Picked by Billionaire Ray Dalio.

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