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WFC

Wells Fargo

$50.72

1.85 (3.79%)

09:21
09/30/19
09/30
09:21
09/30/19
09:21

Morgan Stanley ups Wells target to $50 after CEO hiring, but stays on sidelines

Morgan Stanley analyst Betsy Graseck said the hiring of Charlie Scharf to become CEO at Wells Fargo is a positive that lifts "a big uncertainty" and she raised her price target on the bank's shares to $50 from $47 following the news. However, she remains on the sidelines until there is more clarity on when the Fed imposed asset cap and consent order can be lifted, estimating that it has added about $2B to the bank's expense base. She also wonders if Scharf will pursue further business rationalization, which could reset earnings expectations going forward. Graseck keeps an Equal Weight rating on Wells Fargo shares, though she sees a path to a potential $56 stock price over the longer-term once the consent order gets lifted.

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WFC Wells Fargo
$50.72

1.85 (3.79%)

09/24/19
MSCO
09/24/19
NO CHANGE
MSCO
Large-cap banks aren't gaining deposit market share, says Morgan Stanley
Morgan Stanley analyst Ken Zerbe said he continues to hear the "false narrative" that large-cap banks must be gaining market share due to their superior technology, but he insists they are not and that small and mid-cap banks have consistently gained deposit market share over the last five years. Individual large-cap banks that have had the biggest deposit share gains include Goldman Sachs (GS), Ally Financial (ALLY) and Synchrony Financial (SYF), while mid-cap banks that have delivered the biggest gains in share of total deposits include First Republic (FRC), KeyCorp (KEY) and Huntington (HBAN), Zerbe tells investors. Large-cap banks that have seen the largest declines in their respective individual shares of total deposits include JPMorgan (JPM), Wells Fargo (WFC) and Citigroup (C), while deposit share losers among mid-cap banks include Comerica (CMA), Prosperity Bancshares (PB) and Zions (ZION), said Zerbe.
09/30/19
ARGS
09/30/19
UPGRADE
ARGS
Buy
Wells Fargo upgraded to Buy from Hold at Argus
09/30/19
ARGS
09/30/19
UPGRADE
Target $60
ARGS
Buy
Wells Fargo upgraded to Buy from Hold at Argus
Argus analyst Stephen Biggar upgraded Wells Fargo to Buy with a price target of $60 after the company named Charlie Scharf as its new CEO last week. The analyst is positive on Scharf's "impressive industry background" to improve Wells Fargo's financial performance, noting that he is a former protege of JPMorgan's Jamie Dimon. Biggar expects the new CEO to initially focus on addressing the company's regulatory issues which had stifled growth and working toward removal of the Federal Reserve's $2T asset cap imposed on the bank. The analyst adds that this removal should be a "strong catalyst" for Wells Fargo shares.
09/30/19
BARD
09/30/19
DOWNGRADE
Target $50
BARD
Neutral
Wells Fargo downgraded to Neutral from Outperform at Baird
Baird analyst David George downgraded Wells Fargo to Neutral from Outperform. The analyst likes the new CEO choice but the macro headwinds of slow growth and low rates are real, and improving the earnings run-rate and efficiency will take time. He noted the shares have a nice run over the past month and he would be a buyer in the mid-$40's. George lowered his price target to $50 from $52 on Wells Fargo shares.

TODAY'S FREE FLY STORIES

VVV

Valvoline

$23.05

0.035 (0.15%)

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SYY

Sysco

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0.27 (0.33%)

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NGVC

Natural Grocers

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0.64 (7.41%)

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KMPH

KemPharm

$0.51

0.0229 (4.66%)

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MTD

Mettler-Toledo

$713.22

-8.48 (-1.18%)

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WAT

Waters

$213.34

-0.06 (-0.03%)

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NBSE

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, HGV

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NBSE

NeuBase Therapeutics

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HGV

Hilton Grand Vacations

$35.29

0.05 (0.14%)

KAR

KAR Auction

$22.80

0.88 (4.01%)

VAL

Valaris

$4.09

-0.25 (-5.76%)

CARS

Cars.com

$12.56

0.48 (3.97%)

BHF

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$40.06

0.055 (0.14%)

CC

Chemours

$18.54

0.2 (1.09%)

GM

General Motors

$36.80

-0.4 (-1.08%)

ADNT

Adient

$20.37

-0.705 (-3.35%)

DDS

Dillard's

$77.04

9.235 (13.62%)

GRBK

Green Brick

$11.69

0.03 (0.26%)

AER

AerCap

$59.97

-0.39 (-0.65%)

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BGNE

BeiGene

$195.90

-1.25 (-0.63%)

16:50
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Breaking Hot Stocks news story on BeiGene 

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PAYS

Paysign

$11.27

-0.56 (-4.73%)

16:47
11/14/19
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16:47
Initiation
Paysign initiated  »

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AWK

American Water

$117.90

0.945 (0.81%)

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AVTR

Avantor

$15.98

0.36 (2.30%)

16:46
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EUSHF

Eurocash

$0.00

(0.00%)

16:46
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Eurocash rating change  »

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16:45
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TMO

Thermo Fisher

$300.82

0.92 (0.31%)

16:44
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RH

RH

$175.19

1.98 (1.14%)

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PTON

Peloton

$25.96

0.015 (0.06%)

, ALC

Alcon

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PTON

Peloton

$25.96

0.015 (0.06%)

ALC

Alcon

$58.90

-0.17 (-0.29%)

ALLY

Ally Financial

$30.83

0.15 (0.49%)

ORCC

Owl Rock

$18.20

0.2 (1.11%)

DIS

Disney

$147.19

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VMC

Vulcan Materials

$141.66

3.04 (2.19%)

CAG

Conagra Brands

$28.45

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CELG

Celgene

$110.03

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EPC

Edgewell Personal Care

$31.40

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VST

Vistra Energy

$26.34

0.34 (1.31%)

NLY

Annaly Capital

$9.11

0.035 (0.39%)

C

Citi

$73.85

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CZR

Caesars

$12.86

0.09 (0.70%)

VICI

VICI Properties

$24.58

0.24 (0.99%)

MS

Morgan Stanley

$48.61

0.22 (0.45%)

ADM

Archer Daniels

$42.78

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LBRDK

Liberty Broadband

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GOOGL

Alphabet Class A

$1,309.61

13.61 (1.05%)

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RH

RH

$175.19

1.98 (1.14%)

, OXY

Occidental Petroleum

$37.76

-0.36 (-0.94%)

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Hot Stocks
Breaking Hot Stocks news story on RH, Occidental Petroleum »

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RH

RH

$175.19

1.98 (1.14%)

OXY

Occidental Petroleum

$37.76

-0.36 (-0.94%)

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16:39
11/14/19
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16:39
General news
Fed Balance Sheet Level data reported »

Week of 11/13 Fed Balance…

QGEN

Qiagen

$37.31

1.785 (5.03%)

16:38
11/14/19
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Initiation
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  • 07

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ILMN

Illumina

$298.43

0.32 (0.11%)

16:36
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Initiation
Illumina initiated  »

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REDU

Rise Education

$7.42

-0.24 (-3.13%)

16:35
11/14/19
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Earnings
Rise Education reports Q3 Net income RMB 39.6M, up 22.4% from last year »

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  • 14

    Nov

16:35
11/14/19
11/14
16:35
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16:35
General news
Money Supply M2 Weekly Change data reported »

Week of 11/4 Money Supply…

RGEN

Repligen

$81.70

-1.45 (-1.74%)

16:34
11/14/19
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16:34
Initiation
Repligen initiated  »

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KLIC

Kulicke & Soffa

$25.18

-0.22 (-0.87%)

16:33
11/14/19
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Earnings
Kulicke & Soffa sees Q1 revenue $130M-$150M, consensus $141.04M »

Looking forward, Dr.…

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