Evercore ISI has adjusted its price target for Wells Fargo (WFC, Financial), reducing it from $86 to $72 while maintaining an Outperform rating on the stock. This decision follows the bank's recent first-quarter financial results and reflects a shift in macroeconomic assumptions.
The revision in estimates primarily accounts for a more uncertain economic environment, especially post-tariff implications. Evercore now anticipates a total of four 25 basis point interest rate cuts by the Federal Reserve in 2025, compared to its earlier prediction of just two. Despite these changes, Evercore remains optimistic about Wells Fargo's future, citing strong and distinctive growth drivers that continue to support its positive stance on the bank.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 21 analysts, the average target price for Wells Fargo & Co (WFC, Financial) is $80.14 with a high estimate of $92.00 and a low estimate of $58.92. The average target implies an upside of 27.71% from the current price of $62.75. More detailed estimate data can be found on the Wells Fargo & Co (WFC) Forecast page.
Based on the consensus recommendation from 23 brokerage firms, Wells Fargo & Co's (WFC, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Wells Fargo & Co (WFC, Financial) in one year is $59.67, suggesting a downside of 4.91% from the current price of $62.75. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Wells Fargo & Co (WFC) Summary page.
