Why Wells Fargo's 58%+ Rise Was Predictable and How to Profit Next Time

Stocks Analysis by Investing.com (David Wagner) covering: Wells Fargo & Company. Read Investing.com (David Wagner)'s latest article on Investing.com

Financial models predicted the stock would rise by over 60%.) has been on a tear since October 2023. The stock surged over 58%, from a low of $38.5 to a 2018 high of $62.55 on May 15, 2024.

For instance, InvestingPro Fair Value, which combines multiple financial models to predict target prices, estimated Wells Fargo's fair value at $63.98 on March 19, 2023, when the stock was only $37.76. This represented a potential upside of nearly 70%. The InvestingPro Fair Value of Wells Fargo shares is now $65.51, corresponding to a modest upside potential of just over 10%, probably not enough to justify a buy.Analysts are slightly less optimistic, with an average target of $63.35 translating into a potential upside of +6.5%.

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