Wells Fargo upgraded Webster Financial (WBS) to Overweight from Equal Weight with a price target of $75, up from $70. The firm is more constructive given its desire to “own” the post Q1 2025 net interest income inflection, steeper curve, better early deposit betas, and regulatory relief. Wells believes Webster is primed to see the current 3-times valuation gap narrow, owing to a strong ROTCE profile and the potential for accelerating loan growth.
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