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WFC

Wells Fargo

$58.03

0.77 (1.34%)

11:46
02/07/18
02/07
11:46
02/07/18
11:46

S&P lowers Wells Fargo debt to A- from A with Stable outlook

Standard & Poors downgraded Wells Fargo's debt rating to A- from A while raising its outlook to Stable from Negative.

  • 08

    Feb

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    Feb

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    Mar

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    Mar

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    Mar

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    May

WFC Wells Fargo
$58.03

0.77 (1.34%)

02/05/18
02/05/18
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 Market Perform from Outperform at Keefe Bruyette, to Neutral from Buy at Citi, to Underperform from Outperform at RBC Capital, to Underweight from Neutral at JPMorgan, and two notches to Underweight from Overweight at Morgan Stanley. 2. Dick's Sporting (DKS) downgraded to Underweight from Equal Weight at Barclays with analyst Matthew McClintock saying sentiment on the shares have improved over the past month under the narrative that Dick's could become the next Best Buy (BBY). 3. Amgen (AMGN) downgraded to Neutral from Overweight at Atlantic Equities with analyst Steve Chesney citing relative valuation and more balanced risk/reward on Repatha's commercial trajectory and the of legacy biologics given biosimilar, branded and IP risks. 4. Marathon Petroleum (MPC) and MPLX (MPLX) were downgraded to Hold from Buy at Jefferies. 5. VMware (VMW) downgraded to Neutral from Buy at Citi with analyst Walter Pritchard saying he sees "no easy deal" for Dell and expects the overhang to cap VMware shares around the $138 level. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/05/18
UBSW
02/05/18
NO CHANGE
Target $63
UBSW
Neutral
Wells Fargo consent order a material setback, says UBS
UBS analyst Saul Martinez views Wells Fargo's consent order as a material setback, as the company will be unable to grow its assets until the Fed approves plans to improve board oversight and governance and overall compliance and operational risk management. Martinez maintained his Neutral rating and $63 price target on Wells Fargo shares.
02/05/18
RBCM
02/05/18
DOWNGRADE
RBCM
Underperform
Wells Fargo downgraded to Underperform at RBC Capital after Fed action
As reported earlier, RBC Capital analyst Gerard Cassidy downgraded Wells Fargo two notches to Underperform from Outperform and cut his price target to $50 from $65. Cassidy cites the latest regulatory action against the bank by the Fed which prohibits its balance sheet from growing. The analyst notes that he was surprised by the Fed's Cease and Desist Order given the investment made by the bank to remedy its sales practices issues.
02/05/18
02/05/18
DOWNGRADE
Target $64

Underweight
Wells Fargo downgraded two notches to Underweight at Morgan Stanley
Morgan Stanley analyst Betsy Graseck downgraded Wells Fargo two notches, to Underweight from Overweight, and cut her price target on the stock to $64 from $75 after the "unprecedented" Fed consent order that was reported after the close on Friday. The consent order will force Wells to shrink some businesses in order to keep their assets flat, noted Graseck, stating that the order makes it unlikely that the bank can take full advantage of stronger economic growth and its significant excess capital. Even after the order is lifted, which Graseck assumes will be in the first quarter of 2019, Wells may have lower loan growth than peers as it will have to work hard to recover from the reputational damage and rebuild lost relationships, she contends.

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IO

ION Geophysical

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, SLB

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FNSR

Finisar

$17.03

-0.685 (-3.87%)

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AUTL

Autolus Therapeutics

$0.00

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NUVA

NuVasive

$55.81

0.33 (0.59%)

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HAIN

Hain Celestial

$30.23

1.04 (3.56%)

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5K Hain Celestial Aug 29 - 31 call spreads sold at 85c »

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APO

Apollo Global

$31.89

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HCP

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APO

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CMG

Chipotle

$472.84

9.97 (2.15%)

10:35
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Expiring Chipotle calls en fuego as shares head toward $500 »

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PAGS

PagSeguro Digital

$30.52

1.1 (3.74%)

10:30
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Three-way spreads continue in PagSeguro »

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GM

General Motors

$41.70

0.575 (1.40%)

, F

Ford

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On The Fly: Top five analyst downgrades »

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IO

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$21.85

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WMT

Walmart

$84.47

0.25 (0.30%)

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PX

Praxair

$157.72

2 (1.28%)

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