Wells Fargo price target raised to $82 from $67 at Citi

Citi raised the firm’s price target on Wells Fargo (WFC) to $82 from $67 and keeps a Neutral rating on the shares. Wells shares are up 13% since the end of October, reflecting optimism about deregulation, particularly watered down Basel III reforms and a potentially swifter removal of the asset cap, the analyst tells investors in a research note. The firm says that while Wells is well positioned and offers some upside on net interest income largely on deposit repricing, the stock trades at a premium and there is better value elsewhere.