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RBC Capital Remains a Buy on Wells Fargo (WFC)

Tipranks - Tipranks - Thu Jun 25, 8:52PM CDT

In a report released on June 22, Gerard Cassidy from RBC Capital maintained a Buy rating on Wells Fargo, with a price target of $100.00. The company’s shares closed yesterday at $83.84.

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Cassidy covers the Financial sector, focusing on stocks such as Citigroup, Fifth Third Bancorp, and JPMorgan Chase. According to TipRanks, Cassidy has an average return of 15.5% and a 73.36% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Wells Fargo with a $95.46 average price target, which is a 13.86% upside from current levels. In a report released on June 14, Bank of America Securities also reiterated a Buy rating on the stock with a $95.00 price target.

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Based on Wells Fargo’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $31.8 billion and a net profit of $5.29 billion. In comparison, last year the company earned a revenue of $29.63 billion and had a net profit of $4.89 billion

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