Wells Fargo price target raised to $80 from $72 at RBC Capital

RBC Capital raised the firm’s price target on Wells Fargo (WFC) to $80 from $72 and keeps a Sector Perform rating on the shares as part of its broader research note reviewing Q4 results by some of the large-cap banks. Net interest income growth and higher net interest margins, combined with strong growth capital markets revenues, drove the better than expected revenue and EPS growth, credit quality trends remained benign and manageable, and capital levels were strong and are comfortably above the regulatory required levels, suggesting stock buybacks will be prominent in 2025, the analyst tells investors in a research note.