{
  "id": 19335943,
  "title": "Truist reiterates Buy on Wells Fargo stock, cites efficiency gains",
  "url": "https://urgent.news/2026/11/10/truist-reiterates-buy-on-wells-fargo-stock-cites-efficiency-gains",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-10T13:14:54.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/analyst-ratings/truist-reiterates-buy-on-wells-fargo-stock-cites-efficiency-gains-93CH-5015471"
  },
  "original_language": "en",
  "account": "Truist Securities maintained its Buy rating and $95.00 price target for Wells Fargo & Company (NYSE:WFC), highlighting the potential for efficiency gains and expanded return on tangible common equity. During an investor meeting, CEO Charlie Scharf and CFO Mike Santomassimo expressed optimism about Wells Fargo's path to accelerate growth and achieve the 17%-18% ROTCE target, potentially surpassing it. The bank's current ROTCE stands at 14%, leaving significant room for improvement. Executives emphasized the importance of further efficiency gains and risk discipline across the company. Wells Fargo's focus remains on executing attractive organic growth opportunities in its consumer and commercial segments, rather than engaging in M&A activities. Analyst John McDonald from Truist reiterated the rating and price target following the investor meeting. While Wells Fargo reported a 13% increase in third-quarter 2026 earnings, revenue still fell short of expectations. Other firms, such as Phillip Securities and RBC Capital, have adjusted their price targets for Wells Fargo, citing lower earnings outlooks and concerns over net interest margins. Despite regulatory constraints on balance sheet expansion, Wells Fargo's asset growth stood at $2.25 trillion in the third quarter of 2026. The bank's return on tangible common equity improved to 16.3% in the quarter, aligning closely with its target range of 17% to 18%.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}