Wells Fargo price target raised to $90 from $86 at BofA

BofA analyst Ebrahim Poonawala raised the firm’s price target on Wells Fargo (WFC) to $90 from $86 and keeps a Buy rating on the shares. The firm’s takeaway based on meetings with over 30 Wall Street and Main Street banks during BofA’s annual financial services conference was that despite the recent tariff headlines, there is continued optimism that a pro-business Trump administration should drive strengthening customer activity, the analyst tells investors. The firm raised price targets for a selection of global systemically important banks on increased confidence around regulatory relief and upside to EPS.