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WFC

Wells Fargo

$43.72

-0.115 (-0.26%)

14:35
10/04/16
10/04
14:35
10/04/16
14:35

Fitch cuts Wells Fargo outlook to negative, cites possible reputational damage

Fitch Ratings has affirmed Wells Fargo ratings at 'AA-/F1+' and Wells Fargo Bank's ratings at 'AA/F1+.' The rating outlook is revised to Negative from Stable. "The affirmation reflects the company's superior earnings profile, strong liquidity, and still benign asset quality. Fitch has revised the outlook to Negative given the uncertain impact to WFC's franchise resulting from the potential reputational damage from the recent regulatory actions and fines related to its sales practices in its Community Banking business line. In particular, Fitch believes that the firm could face earnings pressure as a result, with earnings being a significant competitive strength for WFC... Fitch views the ensuing reputational damage, risk oversight failures, impact to its selling practices, and the resulting effect on earnings as much larger issues than the actual fine," the agency said.

  • 23

    Oct

WFC Wells Fargo
$43.72

-0.115 (-0.26%)

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.

TODAY'S FREE FLY STORIES

BHF

Brighthouse Financial

$55.46

-0.21 (-0.38%)

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TRUE

TrueCar

$11.29

0.14 (1.26%)

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T

AT&T

$34.56

-0.08 (-0.23%)

, TWX

Time Warner

$89.76

2.05 (2.34%)

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T

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$34.56

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TWX

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$89.76

2.05 (2.34%)

JEC

Jacobs Engineering

$65.09

5.75 (9.69%)

MDT

Medtronic

$82.96

4.06 (5.15%)

CPB

Campbell Soup

$46.14

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DSW

DSW

$19.57

-2.96 (-13.14%)

SIG

Signet Jewelers

$55.48

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CYTK

Cytokinetics

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HPQ

HP Inc.

$22.59

0.465 (2.10%)

12:25
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Options
HP Inc. call volume above normal and directionally bullish »

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  • 21

    Nov

12:20
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General news
U.S. equities are back at record highs »

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KORS

Michael Kors

$56.29

0.14 (0.25%)

12:19
11/21/17
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Michael Kors to hire Francesca Leoni as new Chief Brand Officer »

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  • 11

    Dec

TSRO

Tesaro

$83.54

-2.36 (-2.75%)

12:18
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  • 29

    Nov

$NSD

NASDAQ Market Internals

12:17
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Technical Analysis
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Volume is average for…

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PEP

PepsiCo

$115.81

0.9 (0.78%)

, KHC

Kraft Heinz

$79.93

0.3 (0.38%)

12:16
11/21/17
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Periodicals
PepsiCo speculated as possible Kraft Heinz target, FT says »

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PEP

PepsiCo

$115.81

0.9 (0.78%)

KHC

Kraft Heinz

$79.93

0.3 (0.38%)

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$NYE

NYSE Market Internals

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NYSE market internals summary »

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BAC

Bank of America

$26.70

-0.04 (-0.15%)

12:10
11/21/17
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Options
Size ratio call spread adds 50K contracts to Bank of America volume »

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TSRO

Tesaro

$83.54

-2.36 (-2.75%)

12:08
11/21/17
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Hot Stocks
Tesaro higher after announcing 'non-dilutive' financing »

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  • 29

    Nov

SU

Suncor

$35.28

0.34 (0.97%)

12:05
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Options
Suncor call volume above normal and directionally bullish »

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  • 05

    Dec

12:00
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FX Action: USD-CAD »

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Treasury's $13 B 2-year FRN stopped at a high discount margin of 0.035% »

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TRIP

TripAdvisor

$30.48

-0.11 (-0.36%)

11:50
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TripAdvisor calls outpace puts 10:1 as shares see relative strength »

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RDS.A

Royal Dutch Shell

$61.70

-0.02 (-0.03%)

11:48
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Conference/Events
Royal Dutch Shell to hold a meeting »

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AKRX

Akorn

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Akorn spokesperson tells Bloomberg no change with Fresenius SE deal »

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CRM

Salesforce

$109.11

1.735 (1.62%)

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  • 21

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Euro$ interest rate futures continue to recline »

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JNJ

Johnson & Johnson

$138.81

0.88 (0.64%)

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  • 14

    Dec

BLMN

Bloomin' Brands

$20.54

2.27 (12.42%)

11:40
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Bloomin' Brands says will consider JANA Partners' perspectives »

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PAGP

Plains GP Holdings

$20.85

-0.04 (-0.19%)

11:40
11/21/17
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11:40
Options
Call writer opens a notable new position in Plains GP Holdings »

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NFLX

Netflix

$194.10

0.9 (0.47%)

, T

AT&T

$34.49

-0.155 (-0.45%)

11:34
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FCC chairman Ajit Pai circulates draft Restoring Internet Freedom Order »

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NFLX

Netflix

$194.10

0.9 (0.47%)

T

AT&T

$34.49

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VZ

Verizon

$46.31

0.105 (0.23%)

CHTR

Charter

$338.37

-3.17 (-0.93%)

CMCSA

Comcast

$35.83

-0.33 (-0.91%)

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  • 29

    Nov

MU

Micron

$47.64

1.48 (3.21%)

11:30
11/21/17
11/21
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Options
Large four-way spread in Micron as shares see strength »

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  • 27

    Nov

  • 19

    Dec

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