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WFC

Wells Fargo

$44.81

1.055 (2.41%)

14:54
10/05/16
10/05
14:54
10/05/16
14:54

Senate Democrats urge DOJ to probe Wells Fargo, prosecute executives

A coalition of senators led by Senator Mazie Hirono issued a letter to the Justice Department urging it to investigate and, if appropriate, prosecute individual wrongdoing at Wells Fargo after its account opening scandal. "Every time the Department of Justice settles a case of corporate fraud without holding individuals accountable, it reinforces the notion that the wealthy and powerful have purchased a higher class of justice for themselves," the senators wrote in the letter. Reference Link

  • 23

    Oct

WFC Wells Fargo
$44.81

1.055 (2.41%)

09/22/16
DBAB
09/22/16
NO CHANGE
Target $50
DBAB
Buy
Wells Fargo price target lowered to $50 from $59 at Deutsche Bank
Deutsche Bank analyst Matt O'Connor lowered his price target for Wells Fargo to $50 saying it's "tough to argue for much upside in the near term." The analyst, however, believes that over the next year, Wells Fargo's issues should subside and its "attractive valuation should be more relevant." After laying out the bull and bear thesis on the shares, O'Connor sees 5%-12% relative upside in the name. He keeps a Buy rating on Wells Fargo.
09/28/16
DBAB
09/28/16
UPGRADE
Target $11.5
DBAB
Buy
Huntington Bancshares upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Matt O'Connor upgraded Huntington Bancshares to Buy saying the 15% pullback in the shares since the FirstMerit (FMER) deal was announced is overdone. The analyst views industry-wide concerns surrounding consumer indirect auto lending as overblown and he raised his price target for Huntington shares to $11.50 from $10.50. Going into the Q3 results for U.S. banks, O'Connor likes JPMorgan (JPM) and Wells Fargo (WFC) and is cautious on Fifth Third (FITB).
10/04/16
RAJA
10/04/16
DOWNGRADE
RAJA
Underperform
Wells Fargo downgraded to Underperform from Market Perform at Raymond James
Raymond James analyst David Long downgraded Wells Fargo to Underperform and reduced estimate saying the fallout from the unauthorized account openings will result in continued under performance. The analyst said several additional investigations, lawsuits, and fines have been announced, resulting in a still cloudy outlook.
10/04/16
10/04/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) downgraded to Underperform from Market Perform at Raymond James with analyst David Long saying the fallout from the unauthorized account openings will result in continued under performance. The analyst said several additional investigations, lawsuits, and fines have been announced, resulting in a still cloudy outlook. 2. Kinder Morgan (KMI) downgraded to Hold from Buy at Stifel analyst Selman Akyol citing valuation. 3. GrubHub (GRUB) downgraded to Hold from Buy at Stifel with analyst John Egbert citing valuation. 4. Dr Pepper Snapple (DPS) downgraded to Hold from Buy at Evercore ISI with analyst Robert Ottenstein saying reports that Bai Brands is looking for a new owner are credible and could change investor's psychology on the stock and its Allied Brands business. 5. Dollar Tree (DLTR) downgraded to Neutral from Buy at Cleveland Research with the firm saying sales trends appear to have slowed further at Family Dollar as the company struggles with increased price competition, difficult comps, and strategy headwinds. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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