Wells Fargo stock analysis

Piper Sandler raised its PT from $60 to $62, maintaining its neutral rating position. Barclays was more aggressive, increase its PT from $66 to $75 and maintain its buy-equivalent overweight rating.

WFC report earnings of $1.52 EPS, which was a significant beat. Revenue $20.37 B. Although EPB and Revenue both were weaker YOY, but by beating estimate, the stock was increased over 3%. Non-interest income rose 12% annually and remains strong credit discipline.

Independent research firm Wolf Research upgraded WFC to an “outperform” rating, citing the multiple compression has already occurred and Fed-imposed asset cap is now 6 years. WFC will be reporting earning on Friday.