Piper Jaffray Downgraded Wells Fargo (WFC)


Wells Fargo (NYSE:WFC) was downgraded by equities researchers at Piper Jaffray from a “neutral” rating to an “underweight” rating in a research note issued on Friday, The Fly reports.

Other equities analysts have also issued reports about the stock. Goldman Sachs upgraded shares of Wells Fargo from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, January 11th. Credit Suisse raised their price objective on shares of Wells Fargo from $48.82 to $62.00 and gave the company an “outperform” rating in a research report on Tuesday, January 19th. Deutsche Bank restated a “buy” rating on shares of Wells Fargo in a research report on Tuesday, December 29th. Keefe, Bruyette & Woods cut their price objective on shares of Wells Fargo from $60.00 to $59.00 in a research report on Monday, March 21st. Finally, Zacks Investment Research lowered shares of Wells Fargo from a “hold” rating to a “sell” rating in a research report on Thursday, March 3rd. Five investment analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $55.28.


Source: American Banking and Market News

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