Wells Fargo Stock Analysis: Potential Upside to $66 with Q1 Earnings
Wells Fargo Stock Price Prediction
An analyst has raised the price target for Wells Fargo stock to $66 following impressive Q1 earnings. This target indicates an 18% potential upside over the next 12 months.
Challenges and Expectations
Despite facing pressure from higher interest rates resulting in a projected decline in net interest income, strong fee revenue growth is expected to support the stock's performance to counteract these challenges.
Recovery and Future Prospects
Recent positive developments, such as the conclusion of a consent decree, have boosted Wells Fargo's performance. As the company continues to restore its reputation and navigate uncertain economic conditions, a gain of 18% seems viable.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.