Reported 2 days ago
Wells Fargo's shares surged over 2% after the Federal Reserve lifted a long-standing asset cap that hindered its growth due to past scandals. While the bank is now free to expand, observers note that market expectations may limit future gains. CEO Charlie Scharf has shifted focus away from traditional banking, bolstering investment banking and trading, with promising early results. Despite a cautious market atmosphere, some analysts have raised their price targets on Wells Fargo stocks.
Source: YAHOO