Wells Fargo price target raised to $85 from $82 at Truist

Truist raised the firm’s price target on Wells Fargo (WFC) to $85 from $82 and keeps a Buy rating on the shares as part of a broader research note updating the firm’s models after the first day of big bank earnings. The main drivers of the firm’s upside revision for the company are higher net interest income levels for FY25 and FY26, partially offset by higher non-interest expenses than previously modeled, the analyst tells investors in a research note.