Market Overview

UPDATE: Oppenheimer Downgrades Wells Fargo to Perform on Limited Upside

Related WFC
Ocwen's $150M Settlement: A Clean Slate Or New Burden?
Deutsche Bank Analyst: JPMorgan Trends Beat Wells Fargo
Making Money With Charles Payne: 12/23/14 (Fox Business)

Oppenheimer downgraded Wells Fargo & Company (NYSE: WFC) from Outperform to Perform.

Oppenheimer commented, "We have been recommending WFC stock since 2009 as we expected it to recover strongly from the 2007-8 financial crisis, which it has. However, despite being heavily conflicted about a downgrade now, our bottom line is that we believe there is better upside elsewhere. It is not that we don't like the stock, but our valuation model shows about 12% upside with expected dividends, and that puts it just too close to our market expectation."

Wells Fargo closed at $35.10 on Friday.

Latest Ratings for WFC

DateFirmActionFromTo
Nov 2014BMO CapitalDowngradesOutperformMarket Perform
Oct 2014CitigroupMaintainsNeutral
Oct 2014Argus ResearchUpgradesSellBuy

View More Analyst Ratings for WFC
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (WFC)

Around the Web, We're Loving...

Get Benzinga's Newsletters