BUZZ-Street View: Wells Fargo's growth playbook promising despite Q4 miss
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Wells Fargoreported a Q4 profit miss due to $612 million in severance expenses as part of CEO Charlie Scharf’s operational streamlining. Despite this, analysts maintain a "buy" rating with a median price target of $101. RBC Capital Markets notes a shift from defense to offense as regulatory restrictions ease, while Piper Sandler highlights growth opportunities in investment banking and wealth management. TD Cowen sees a strong pipeline for future fees, and Morgan Stanley emphasizes balance sheet growth and expense efficiency in a post-asset cap environment.
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