Shares of Wells Fargo & Co WFC have lost almost 11 percent since the year began; however, most of the losses were realized over the fist 40 days of 2016. Over the past three months, the stock has been almost flat, but a decline in the past couple of weeks seems to have unlocked some upside potential.
Related Link: Here's How Crowdsourced Ratings Can Beat The Market
On Wednesday, top raters at the Vetr community decided to upgrade their rating on shares of Wells Fargo, from 4.0 Stars (Buy) to 4.5 Stars (Strong Buy) - out of a possible 5.0 Stars rating.
The new rating seems more aligned with the crowd’s target price of $53.77, which implies a 10.75 percent upside potential from current valuations. Also in line with the target and new rating from the top raters, the crowd has issued 85 percent bullish ratings.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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