Truist and Evercore Lower Wells Fargo (WFC) Price Targets, Stay Bullish

Core Viewpoint - Wells Fargo & Company (NYSE:WFC) is identified as one of the most profitable cheap stocks to invest in currently, despite recent adjustments to its price targets and earnings forecasts by analysts [1]. Group 1: Price Target Adjustments - Truist Securities reduced its price target for Wells Fargo from $104 to $100 while maintaining a Buy rating [1]. - Evercore ISI also lowered its price target from $110 to $105 but kept its Outperform rating [3]. Group 2: Earnings Per Share (EPS) Forecasts - Truist Securities revised its EPS forecast for 2026 from $7.15 to $6.95 and for 2027 to $8.00, reflecting a decrease of $0.15 from previous estimates [2]. - Evercore ISI adjusted its EPS estimates for 2026 and 2027 to $7.17 and $8.32, respectively, representing reductions of 1% and 2% [3]. Group 3: Revenue and Expense Growth - Truist Securities updated its outlook to project approximately 5% annual revenue growth and 1-2% expense growth over the next two years, aligning with the company's guidance of about $55.7 billion in expenses for 2026 [2].