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WFC

Wells Fargo

$44.71

-0.04 (-0.09%)

17:28
10/16/16
10/16
17:28
10/16/16
17:28

Treasury official: Wells Fargo has opportunity to bring in new leaders, NYT says

Speaking in a New York Times interview published Friday, Treasury Department deputy secretary Sarah Raskin said, "The whole country is watching to see if [Wells Fargo] is seizing the opportunity to make a clean break from doing business in a way that strains its reputation with its customers to one that enhances it. This is an opportunity to bring in a new perspective at the top." The comments were included as part of a larger report on whether new Wells Fargo CEO Tim Sloan was the best choice for the job given his "insider" status, with Rafferty Capital analyst Richard Bove opining to the publication that "this is a company that must make massive revisions to its business model. Someone has to get in there and rip the company apart. Sloan is not the guy to do that." Reference Link

  • 23

    Oct

WFC Wells Fargo
$44.71

-0.04 (-0.09%)

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.
10/10/16
UBSW
10/10/16
UPGRADE
Target $44
UBSW
Neutral
Wells Fargo upgraded to Neutral from Sell at UBS
UBS analyst Brennan Hawken upgraded Wells Fargo to Neutral saying the risk/reward appears more balanced after the significant underperformance of the shares. The analyst believes Wells' earnings outlook remains uncertain, however. He keeps a $44 price target for the shares.
10/13/16
BOFA
10/13/16
NO CHANGE
Target $48
BOFA
Buy
'Healing process' may now start for Wells shares, BofA/Merrill says
BofA/Merrill analyst Erika Najarian believes the departure of CEO, Chairman and President John Stumpf could begin a "healing process" for the shares of Wells Fargo. Consensus feedback from investors post the Congressional hearings is that Stumpf retiring may be a necessary step for the bank to begin putting the cross-sell controversy behind it, Najarian tells investors in a research note. The analyst expects the shares to react positively today on the news. She has a Buy rating on Wells Fargo with a $48 price target. The shares are down 9c to $45.23 in pre-market trading.

TODAY'S FREE FLY STORIES

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PROV

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YGE

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EPC

Edgewell Personal Care

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ORC

Orchid Island Capital

$10.60

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AEP

American Electric

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ORC

Orchid Island Capital

$10.60

-0.33 (-3.02%)

17:34
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Syndicate
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HBHC

Hancock Holding

$46.70

-0.5 (-1.06%)

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First NBC Bank

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HBHC

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  • 06

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TSLA

Tesla

$314.07

5.44 (1.76%)

17:31
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LMT

Lockheed Martin

$269.45

-1.69 (-0.62%)

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BA

Boeing

$184.83

1.61 (0.88%)

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WBA

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$86.54

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GE

General Electric

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SIX

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LMT

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CYH

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MRUS

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ANY

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