UBS Trims Wells Fargo Price Target but Keeps Buy Rating
UBS cut its WFC target from $104 to $102, yet still sees roughly 25% upside from current levels.
If you own Wells Fargo stock — or you've been eyeing it — here's a quick update worth knowing. UBS Group nudged its price target on Wells Fargo (NYSE: WFC) down a modest $2, from $104 to $102. That might sound like bad news at first glance, but the bank kept its "Buy" rating intact, which tells you this is more of a minor recalibration than any kind of alarm bell.
The bigger picture actually looks pretty healthy for Wells Fargo. Wall Street analysts as a group have the stock tagged as a "Moderate Buy," with a consensus price target sitting around $99.75. Even that slightly trimmed UBS target implies roughly 25% upside from where shares are trading — that's not exactly a ringing endorsement to run for the exits.
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What's backing up that optimism? Wells Fargo's most recent quarterly earnings came in well above what analysts expected. The bank posted earnings per share of $1.96 against a consensus estimate of $1.73 — a beat of more than $0.23 per share. Revenue also climbed 8.6% compared to the same period a year ago, which signals the underlying business is still generating real momentum.
In plain English: one analyst shaved two bucks off a price target, but the fundamental story hasn't changed much. Strong earnings beats and solid revenue growth tend to keep bulls in the driver's seat, and the broader analyst community seems to agree. A small target cut from a single firm rarely moves the needle on long-term thesis.
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