Why Wells Fargo's Stock Is Trading Higher Today

Wells Fargo & Co (NYSE:WFC) shares are trading higher after Morgan Stanley maintained its Overweight rating on the stock and raised its price target from $43 to $47 per share.

The stock hit its 52-week high at $39.66 around 1:30 p.m. ET Wednesday. Wells Fargo shares are trading higher by 3.32% at $39.40 at the time of publication.

Wells Fargo is one of the largest banks in the United States and provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally.