Skip to main content

Market Overview

Compass Point Weighs In On Wells Fargo's Q2 Results


Analyst Kevin Barker at Compass Point boosted his price target on Wells Fargo (NYSE: WFC) from $49 to $51 following the firm’s second quarter earnings report last week. Compass Point currently has a Neutral rating on the stock.

Barker wrote, “Although the streak of quarterly earnings growth finally ended, the operating result matched street estimates and total revenue ticked up after several quarters of stagnation. WFC needs to continue to growing the topline in order to drive EPS higher given the reserve releases cannot continue forever, especially with a pickup in loan balances.”

Related: Morgan Stanley Likes Alcoa's Most Recent Report

The note goes on to comment that Wells Fargo faced high litigation costs and that ongoing costs may make it difficult to meet the upcoming year’s consensus.

Shares of Wells Fargo have been volatile in early Monday trading and were last down 0.08 percent to $51.45.

Latest Ratings for WFC

Apr 2021Morgan StanleyMaintainsOverweight
Apr 2021Raymond JamesMaintainsOutperform
Apr 2021Deutsche BankMaintainsBuy

View More Analyst Ratings for WFC
View the Latest Analyst Ratings


Related Articles (WFC)

View Comments and Join the Discussion!

Posted-In: Compass Point Kevin BarkerAnalyst Color Price Target Analyst Ratings

Latest Ratings

PHXSeaport GlobalInitiates Coverage On
AFCGLake StreetInitiates Coverage On29.0
OSSNoble Capital MarketsUpgrades7.0
NCNOGabelli & Co.Upgrades
HAECJS SecuritiesUpgrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at