Courtesy of Benzinga.
In a report published Wednesday, Keefe, Bruyette & Woods analyst Christopher Mutascio reiterated a Market Perform rating on Wells Fargo & Co (NYSE: WFC), but lowered the price target from $56.00 to $55.00.
In the report, Keefe, Bruyette & Woods noted, “Based on the company’s 3Q14 results released earlier today (see our Initial Look note), we are lowering our EPS estimates as follows: 1) 2014 decreases to $4.09 from $4.14, 2) 2015 decreases to $4.15 from $4.25, and 3) 2016 decreases to $4.55 from $4.70. Our target price decreases slightly to $55 from $56 and represents a P/E multiple of 12x our revised 2016 EPS estimate. We are maintaining our Market Perform rating.”
Wells Fargo & Co closed on Tuesday at $48.83.
Latest Ratings for WFC
Date | Firm | Action | From | To |
---|---|---|---|---|
Oct 2014 | Keefe Bruyette & Woods | Maintains | Market Perform | |
Oct 2014 | Compass Point | Maintains | Neutral | |
Jul 2014 | Rafferty Capital | Downgrades | Buy | Hold |
View More Analyst Ratings for WFC
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