Goldman Sachs cuts target for Wells Fargo stock to USD 96.00

Published on 10/13/2026 at 11:20 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Goldman Sachs kept a Buy rating on October 5, 2026. Wells Fargo stock was EUR 74.85 on October 13, 2026 at Lang & Schwarz.

Goldman Sachs cut its Wells Fargo price target from USD 107.00 to USD 96.00 on October 5, 2026, while keeping a Buy rating.
Wells Fargo reported second-quarter 2026 net income of USD 6.41 billion, up 17 percent year over year, and diluted earnings per share of USD 2.00, up 25 percent.
The bank was scheduled to release third-quarter 2026 results on October 13, 2026, with a conference call at 10:00 a.m. ET.
Wells Fargo stock was EUR 74.85 at Lang & Schwarz on October 13, 2026 at 11:13 a.m. CEST; market capitalization was USD 251.9 billion as of October 12, 2026.

Isometrisches 3D-Diagramm der Bankwertschöpfungskette, Wells Fargo & Co., US9497461015 — Isometrisches Diagramm zeigt Bankprozesse und Wertschöpfungskette von Wells Fargo & Co., ISIN US9497461015, Illustration mit AI erstellt.

Wells Fargo & Co. (ISIN US9497461015) was at EUR 74.85 at Lang & Schwarz on October 13, 2026 at 11:13 a.m. CEST, while Goldman Sachs cut its price target from USD 107.00 to USD 96.00 on October 5, 2026 and kept a Buy rating, according to Markets Insider. The cut adds a valuation counterweight as the bank enters its third-quarter reporting date.

Three dated Wells Fargo events

On July 14, 2026, Wells Fargo reported second-quarter net income of USD 6.41 billion, up 17 percent year over year, diluted earnings per share of USD 2.00, up 25 percent, and total revenue of USD 22.6 billion, up 9 percent, according to Globe Newswire. On October 5, 2026, Goldman Sachs reduced its target to USD 96.00 from USD 107.00. On October 7, 2026, the U.S. Department of Housing and Urban Development launched an investigation into Wells Fargo initiatives intended to increase Black homeownership, including a USD 60 billion lending commitment, according to HUD.

What does the target cut mean?

The Goldman Sachs target remains USD 11.00 below its previous USD 107.00 level, but the bank retained its Buy rating. The adjustment came as large-cap banks approached third-quarter results with continued net interest income support from loan growth and fixed-rate repricing, alongside higher deposit costs, according to Markets Insider.

Wells Fargo management had maintained full-year 2026 net interest income guidance of USD 50 billion, including USD 48 billion excluding Markets and USD 2 billion from Markets, according to the second-quarter earnings transcript. Average loans rose 12 percent year over year to USD 1.03 trillion in the second quarter, while net interest income increased 5 percent to USD 12.3 billion, according to Globe Newswire.

Results date and investor context

Wells Fargo was scheduled to release third-quarter 2026 results at approximately 7:00 a.m. ET on October 13, 2026, followed by a conference call at 10:00 a.m. ET, according to Globe Newswire. A separate earnings preview put consensus third-quarter earnings per share at USD 1.85 and revenue at USD 22.30 billion for the same reporting date, according to IG.

Wells Fargo stock was at EUR 74.85 at Lang & Schwarz on October 13, 2026 at 11:13 a.m. CEST. Market capitalization was USD 251.9 billion as of October 12, 2026, and the 52-week range was USD 72.78 to USD 97.76.

The further course of trading is shown by the continuously updated real-time quote of Wells Fargo stock.