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.

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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