Wells Fargo & Company (WFC) : Analyst Rating Update

Wells Fargo & Company (WFC) : 11 brokerage houses believe that Wells Fargo & Company (WFC) is a Strong Buy at current levels. 4 Analyst considers the fundamentals to be worthy of a Buy recommendation. 6 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Wells Fargo & Company (WFC). Zacks Investment Research suggests a Sell with a rank of 4. 2 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 23 Wall Street Analysts endorse the stock as a Buy with a rating of 2.04.

Wells Fargo & Company (WFC) : 18 investment research analysts covering Wells Fargo & Company (WFC) have an average price target of $56.56 for the near short term. The highest target price given by the Brokerage Firm to the stock is $64 and the lowest target is $44 for the short term. Analysts expect the variance to be within $5.65 of the average price.

Wells Fargo & Company (NYSE:WFC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $45.89 and $45.70 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $46.66. The buying momentum continued till the end and the stock did not give up its gains. It closed at $46.65, notching a gain of 0.95% for the day. The total traded volume was 19,024,127 . The stock had closed at $46.21 on the previous day.

Also, Equity Analysts at the Nomura maintains the rating on Wells Fargo & Company (NYSE:WFC). The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency lowers the price target from $60 per share to $58 per share. The rating by the firm was issued on April 25, 2016. The company shares have dropped -16.36% from its 1 Year high price. On Jul 23, 2015, the shares registered one year high at $58.77 and the one year low was seen on Jun 27, 2016. The 50-Day Moving Average price is $48.32 and the 200 Day Moving Average price is recorded at $49.17.

Wells Fargo & Company is a financial services and bank holding company. The Companys segments are Community Banking, Wholesale Banking, and Wealth and Brokerage and Retirement. The Companys Community Banking segment offers a range of financial products and services for consumers and small businesses, including checking and savings accounts, credit and debit cards, and auto, student and small business lending. The Community Banking segments products include investment, insurance and trust services, and mortgage and home equity loans. The Community Banking segments products and business segments include middle market commercial banking, government and institutional banking, corporate banking and commercial real estate, among others. The Companys Wholesale Banking segment provides a range of financial solutions to businesses across the United States and around the world. The Wealth and Brokerage and Retirement segment provides a range of financial advisory services.

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