The Investor
27 Jun 2026, 09:26
Wells Fargo Slips Friday, Gains After Hours Following Truist Price Target Increase
Wells Fargo (NYSE: WFC) shares fell 1.0% during Friday's regular trading session before rebounding about 0.4% in after-hours trading after Truist Financial raised its price target on the bank.
Truist analyst John McDonald increased the firm's price target on Wells Fargo to $94 from $90 while reiterating a Buy rating. The higher target reflects confidence in the bank's execution and its ability to continue improving profitability through growth in commercial banking and capital markets businesses.
While the rating update was not enough to prevent Friday's decline, it helped support sentiment after the close, with investors responding positively to the upgraded valuation and Truist's continued optimism about Wells Fargo's long-term earnings outlook.
Wells Fargo (NYSE: WFC) shares fell 1.0% during Friday's regular trading session before rebounding about 0.4% in after-hours trading after Truist Financial raised its price target on the bank.
Truist analyst John McDonald increased the firm's price target on Wells Fargo to $94 from $90 while reiterating a Buy rating. The higher target reflects confidence in the bank's execution and its ability to continue improving profitability through growth in commercial banking and capital markets businesses.
While the rating update was not enough to prevent Friday's decline, it helped support sentiment after the close, with investors responding positively to the upgraded valuation and Truist's continued optimism about Wells Fargo's long-term earnings outlook.