Wells Fargo Receives Upgrade To Strong Buy From Vetr Crowd

The Vetr crowd upgraded its rating for Wells Fargo & Co WFC on Wednesday, from 4 stars (Buy), issued 40 days ago, to 4.5 stars (Strong Buy). Crowd sentiment on the bank was unanimously positive at the time of the upgrade, with 100 percent of Vetr user ratings bullish.

Share price in Wells Fargo has been on the downtrend for the better part of the summer amid a slew of old and new controversies surrounding the company's lending and account management practices. The latest news surrounds a larger than estimated number of fraudulent customer accounts opened between 2011 and 2015.

As of September 6, Wells Fargo's stock reached a new year-to-date low of around $50, down about 16.5 percent from a March high of $59.73.

See how crowdsourced ratings could help you time the market.

Currently, the Vetr crowd's average price target on Wells Fargo is up $56.98, which is above the average analyst price target of $53.93. Less than 2 percent of Vetr users are holding WFC in their watch-lists.