{"id":30999,"date":"2023-07-03T19:33:58","date_gmt":"2023-07-03T23:33:58","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/raymond-james-hikes-wells-fargo-price-target-reiterates-underperform-on-us-bancorp\/"},"modified":"2023-07-03T19:34:00","modified_gmt":"2023-07-03T23:34:00","slug":"raymond-james-hikes-wells-fargo-price-target-reiterates-underperform-on-us-bancorp","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=30999","title":{"rendered":"Raymond James hikes Wells Fargo price target; reiterates underperform on US Bancorp"},"content":{"rendered":"
\n

Raymond James analyst David Long on Monday raised Wells Fargo & Co.\u2019s
\n WFC,
\n +1.69%<\/bg-quote>
\n target price to $51 a share from $48 a share and reiterated a strong buy rating on the megabank. \u201cWe remain bullish on WFC shares, as we see several positive catalysts on the horizon, including a lower-than-peer deposit beta, further expense rationalization, and the eventual removal of consent orders (improved governance),\u201d Long said. Wells Fargo stock is up 0.4% in premarket trades. Meanwhile, analyst Long reiterated an underperform rating on US Bancorp
\n USB,
\n +1.63%<\/bg-quote>
\n and said the bank\u2019s outlook for net interest income and net interest margin is \u201coverly optimistic\u201d given higher deposit costs in the industry and mixes shifting away from noninterest bearing sources. US Bancorp stock is up 0.4% in premarket trades on Monday.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Raymond James analyst David Long on Monday raised Wells Fargo & Co.\u2019s WFC, +1.69% target price to $51 a share from $48 a share and reiterated a strong buy rating on the megabank. \u201cWe remain bullish on WFC shares, as we see several positive catalysts on the horizon, including a lower-than-peer deposit beta, further expense […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-30999","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nRaymond James hikes Wells Fargo price target; reiterates underperform on US Bancorp | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Raymond James analyst David Long on Monday raised Wells Fargo & Co.\u2019s WFC, +1.69% target price to $51 a share from $48 a share and reiterated a strong\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=30999\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Raymond James hikes Wells Fargo price target; 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