Wells Fargo stock holds at USD 80.45 as JPMorgan cuts target

Published on 10/04/2026 at 12:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Wells Fargo stock enters October after JPMorgan cut its target from USD 95.50 to USD 91.50 on October 2, 2026. Q2 EPS reached USD 2.00.

Dokumentarische Schwarzweiß-Aufnahme Bankgebäude, Wells Fargo & Co., US9497461015 — Schwarz-weiß-Reportage zeigt Bankgeschäft der Branche von Wells Fargo & Co., ISIN US9497461015, im Finanzviertel, Illustration mit AI erstellt.

Wells Fargo stock (ISIN US9497461015) closed at USD 80.45 on the NYSE on October 2, 2026, up 0.25 percent from the prior session. The immediate catalyst is JPMorgan's lower valuation target ahead of Wells Fargo's third-quarter report.

JPMorgan trims the target

According to Markets Insider on October 2, 2026, JPMorgan analyst Vivek Juneja lowered the Wells Fargo target from USD 95.50 to USD 91.50 and kept a Neutral rating. The new target is 13.74 percent above the October 2 share price.

The adjustment came in a Q3 earnings preview, with the analyst citing pressure across large-cap banks from inflation and the effect of artificial intelligence tools on deposits and deposit costs, according to Markets Insider.

Q2 earnings set the benchmark

Wells Fargo's latest reported quarter showed adjusted EPS of USD 2.00 for Q2 2026, up 25.53 percent year over year. Total revenue reached USD 33.12 billion, net income was USD 6.41 billion and net profit margin stood at 19.35 percent, according to CNN.

That earnings base matters because the market is entering the next report with a clear hurdle: MarketBeat lists Q3 2026 results for October 13, 2026, with consensus EPS of USD 1.85 and expected revenue of USD 22.36 billion.

Consensus stays above the share price

Investing.com reports a Buy consensus based on 23 analysts, with an average 12-month target of USD 100.20. The published range runs from USD 90.00 to USD 115.00, placing the average target 24.54 percent above the reference price.

Stock remains below its yearly high

Wells Fargo stock closed at USD 80.45 on October 2, 2026, while its 52-week range was USD 72.78 to USD 97.76. Its market capitalization was USD 243.3 billion and trading volume reached 10,074,371 shares.