Wells Fargo Downgraded After Disappointing First Quarter Results
Wells Fargo reported first-quarter revenue of $21.45 billion, up 6.4% year-over-year, but missed analyst expectations. Shares fell 5% following the report, leading to a downgrade to a 'hold' rating and a reduced price target. The bank's management remains optimistic about its full-year outlook and certain business segments.
Tickers: $WFC
Topics: Earnings Investment Banking Revenue Growth Stock Performance Wells Fargo