Wells Fargo (NYSE:WFC) stock Analyst Ratings

/ / Financials /

Wells Fargo (NYSE:WFC) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/16/2024 23.12% Raymond James $55 → $58 Maintains Strong Buy 01/09/2024 8.26% Deutsche Bank → $51 Downgrades Buy → Hold 01/08/2024 16.75% Baird → $55 Downgrades Outperform → Neutral 01/02/2024 40.1% Barclays $54 → $66 Maintains Overweight 12/14/2023 19.04% Odeon Capital → $56.08 Upgrades Hold → Buy 12/08/2023 -0.23% Piper Sandler $45 → $47 Maintains Neutral 12/06/2023 16.75% Raymond James $52 → $55 Maintains Strong Buy 12/04/2023 14.63% Morgan Stanley $52 → $54 Maintains Overweight 12/01/2023 6.13% Goldman Sachs $45 → $50 Maintains Buy 10/16/2023 14.63% BMO Capital $52 → $54 Maintains Market Perform 09/22/2023 -6.6% Deutsche Bank $44 → $44 Reiterates Buy → Buy 09/07/2023 -4.48% HSBC → $45 Initiates Coverage On → Hold 08/01/2023 10.38% Morgan Stanley $49 → $52 Maintains Overweight 08/01/2023 11.44% Atlantic Equities $50 → $52.5

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United Parcel Service (NYSE:UPS) Stock Analyst Ratings

/ / Industrials /

United Parcel Service (NYSE:UPS) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/16/2024 17.27% Raymond James $170 → $185 Maintains Strong Buy 01/10/2024 20.44% Stifel $180 → $190 Maintains Buy 12/26/2023 -1.74% Daiwa Capital → $155 Downgrades Outperform → Neutral 12/21/2023 -1.11% JP Morgan $165 → $156 Maintains Neutral 10/11/2023 12.84% JP Morgan $186 → $178 Maintains Neutral 10/02/2023 1.43% Susquehanna $173 → $160 Maintains Neutral 09/29/2023 26.78% Raymond James $205 → $200 Maintains Strong Buy 09/29/2023 7.77% HSBC → $170 Initiates Coverage On → Hold 09/28/2023 10.94% Barclays $180 → $175 Maintains Equal-Weight 09/18/2023 16.64% Oppenheimer $195 → $184 Maintains Outperform 09/14/2023 17.27% TD Cowen $190 → $185 Maintains Market Perform 09/12/2023 12.2% B of A Securities $190 → $177 Maintains Neutral 09/12/2023 13.47% Evercore ISI Group $185 → $179 Maintains In-Line 09/12/2023 14.1% Citigroup $200 → $180 Maintains Buy 09/12/2023

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Goldman Sachs Reports Sharply Higher Earnings, Helped by Asset and Wealth Management — WSJ

/ / Financials /

By AnnaMaria Andriotis and Charley Grant Goldman Sachs reported sharply higher profit for the fourth quarter, bolstered by a strong performance in its asset and wealth management business. The bank on Tuesday said quarterly profit was $2.01 billion, up 51% from a year ago. That amounted to $5.48 per share. Analysts polled by FactSet had expected $3.62 per share. Revenue was $11.32 billion, up 7% from a year ago. That beat the $10.8 billion expected by analysts. Like its peers, Goldman had to recognize a special assessment by the Federal Deposit Insurance Corp. The agency charged lenders as a way to refill its coffers from last year’s bank failures. Goldman took a $529 million charge, roughly in line with what it had already predicted. Goldman shares were up nearly 1% in premarket trading. Investors welcomed the report, especially after eight previous quarters of earnings declines. The bank has been engaged

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Apple May Reportedly Avoid Import Ban on Watches With Redesign

/ / Technology /

Apple (AAPL) can bypass an import ban on its newer Apple Watches by removing a blood-oxygen sensor that’s involved in a patent dispute with Masimo (MASI), the US Customs and Border Protection has determined, according to several media reports Monday. Masimo reportedly said in a Federal Circuit filing Monday that Apple told the US Customs and Border Protection agency that its redesigned watches do not contain pulse oximetry features. Apple argued that the redesign would moot findings that the watches contain copyright-infringing technology, reports said. The US International Trade Commission had issued an import ban on Apple’s current Series 9 and Ultra 2 watches, stemming from allegations that the devices’ blood-oxygen monitors infringe two Masimo patents. The trade agency has yet to give an opinion on the CBP’s decision. Apple, Masimo, CBP and the ITC did not immediately respond to MT Newswires’ requests for comment.

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Goldman Sachs’ Q4 Earnings, Revenue Increase

/ / Financials /

Goldman Sachs (GS) reported Q4 earnings Tuesday of $5.48 per diluted share, up from $3.32 a year earlier. Analysts polled by Capital IQ expected $3.93. Revenue for the quarter ended Dec. 31 expressed as the sum of net interest income and total noninterest income was $11.32 billion, up from $10.59 billion a year earlier. Analysts surveyed by Capital IQ expected $10.96 billion.

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Morgan Stanley 4Q Revenue Increases, Sees Lift in Institutional Securities

/ / Financials /

Morgan Stanley’s 4Q revenue of $12.9 billion jumps about $150 million from the prior year, with a lift from its institutional securities business leading the way. The bank says institutional securities saw net revenues for the quarter of $4.9 billion compared to $4.8 billion a year earlier, adding that investment banking revenue was up 5% from a year ago. Revenue in its wealth management business was essentially unchanged from a year ago at $6.6 billion, with the company noting that asset management revenues increased from the prior year on higher asset levels and the impact of positive fee-based flows. Investment management revenue at $1.5 billion was largely unchanged from a year earlier, with Morgan Stanley highlighting that asset management and related fees increased from the prior year on higher average assets under management driven by increased asset values.

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Dealmaking Still Slow For Goldman Sachs

/ / Financials /

Dealmaking was still slow for Goldman Sachs in 4Q, but the investment bank was lifted by better results in asset and wealth management. Net revenues in Global Banking & Markets were $6.35 billion for 4Q, 3% lower than a year ago, and 21% lower than the prior quarter. Investment banking fees were $1.65 billion, 12% lower the year-ago period reflecting a decline in industry-wide mergers and acquisitions, which was partially offset by higher revenue from debt and equity underwriting, the investment bank says. Still, Goldman’s overall top-line results were buoyed by improvements in asset and wealth management, where revenue was up 23% from a year ago and 36% from the prior quarter. Shares rise 1.3% to $382.70 pre-market.

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CFRA Maintains Hold Opinion On Shares Of Wells Fargo & Company

/ / Financials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We decrease our target price by $3 to $49, 9.3x our 2025 EPS estimate, below the three-year historic average of 11.0x given stagnant growth expectations. We decrease our 2024 EPS view by $0.19 to $4.93 and start 2025’s at $5.28. WFC posted Q4 adjusted EPS of $1.29 vs. $1.45 a year ago, $0.21 above consensus on revenue of $20.5 billion. It was a disappointing quarter as net interest income (NII) fell 5% Y/Y on 22 bps of net interest margin compression to 2.92%. Additionally, management indicated that it expects 7%-9% NII contraction in 2024. Although WFC has outperformed peers from a funding perspective, we think deposit pressures are finally catching up and we point to 12% Q/Q interest expense growth as evidence. Further pressure is coming from

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