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UPDATE: Morgan Stanley Downgrades Wells Fargo Company to Equal-Weight

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Morgan Stanley reduced its rating on Wells Fargo Company (NYSE: WFC) from Overweight to Equal-weight

Morgan Stanley noted, "Stock approaching fair value… currently trades at 1.1x 2014e P/B on 12% ROE. WFC also has less room to improve its expense ratio versus less efficient peers. We are below consensus on NIM, and expect further downside as securities portfolio re-prices."

Wells Fargo Company closed at $34.96 on Tuesday.

Latest Ratings for WFC

DateFirmActionFromTo
Jul 2014Rafferty CapitalDowngradesBuyHold
Jul 2014JP MorganDowngradesOverweightNeutral
Jun 2014MacquarieDowngradesUnderperform

View More Analyst Ratings for WFC
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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