Piper Sandler Reaffirms Overweight on Wells Fargo (WFC) over Strong Underwriting and Growth Prospects

Wells Fargo & Company (NYSE:WFC) ranks among the hot stocks to invest in right now. On September 4, Piper Sandler reaffirmed its Overweight rating and $87 price target on Wells Fargo & Company (NYSE:WFC), pointing to the company’s solid underwriting procedures and long-term growth prospects.

During a recent group discussion between institutional investors and Wells Fargo’s SEVP & CEO of Consumer Lending, the company emphasized that its consumer clients continue to be resilient, especially in higher-end cohorts.

The car loan sector is allegedly turning a cycle and returning to growth mode, while Home loans remain less prominent and more targeted than Wells Fargo’s previous approach, with continued rationalization hiding deeper expansion overall.

Wells Fargo & Company (NYSE:WFC) is a financial services corporation that provides banking, investment, mortgage, and lending products.

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Disclosure: None. This article is originally published at Insider Monkey.