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Vetr Crowd Upgrades Wells Fargo To Sell

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The Vetr community on Monday upgraded Wells Fargo & Company (NYSE: WFC) from 1.5 stars (Strong Sell) to 2.5 stars (Sell). Crowd confidence was mixed, with 42.9 percent of the Vetr community giving the stock a Buy rating, 28.6 percent a Hold and 28.6 percent a Sell.

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News of the upgrade came as the Federal Reserve announced it would be limiting the company’s asset growth pending compliance improvements.

At time of publication, Wells Fargo shares were trading down 2.1 percent at $56.93. The Vetr crowd is bearish, setting a price target of $54.78, implying a 3.8 percent downside. Despite news of the new Fed restrictions, analysts are bullish. The 12-month consensus price target is at $65, implying a strong upside.

 

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