Jun. 9 at 5:10 PM
BofA Securities reaffirmed its “Buy” rating on Wells Fargo and kept its
$95 price target, saying the stock is likely to outperform ahead of second-quarter earnings as investor confidence gradually improves following a weak first quarter.
The bank highlighted management’s updated outlook shared at a recent investor conference, arguing that clearer strategy communication and improving growth prospects should support further upside. Analysts pointed to a potential 18% return on tangible common equity by 2028 as a key long-term driver.
Wells Fargo management reiterated confidence in roughly
$50 billion in net interest income, noting that results are trending positively despite shifting interest rates. Near-term net interest margin faces modest pressure from changes in deposit mix, though the impact is expected to moderate. Commercial deposit growth is accelerating after the removal of asset caps, driven largely by existing clients bringing balances back.
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