JP Morgan Maintains Overweight, $41 Target on Wells Fargo

JP Morgan reiterates its Overweight rating and $41 target price on Wells Fargo (NYSE: WFC) as the company focuses on revenue growth both organically and through acquisitions.

JP Morgan says, “One of the challenges for WFC is to ensure that acquiring new businesses does not move it to a higher SIFI bracket. WFC's rapid recent growth in deposits and growing array of businesses partly reflects its ascension to the top in reputation and has made it part of the Big Four but share of higher-volatility, complex markets-related businesses is much lower and is reflected in the valuation multiples.”

WFC closed at $25.79 per share on Tuesday.