Wells Fargo & Company (WFC): Among Stocks Wall Street Is Calling Bullish Amid Market Turmoil

We recently published a list of 10 Stocks Wall Street Is Calling Bullish Amid Market Turmoil. In this article, we are going to take a look at where Wells Fargo & Company (NYSE:WFC) stands against other stocks that Wall Street is calling bullish amid market turmoil.

The S&P 500 is down 8.6% in a month while the Nasdaq has lost nearly 13%. Markets continue to scare retail investors as stock after stock struggles to deal with the aftermath of Donald Trump’s unpredictable and aggressive policies.

While it is advisable to stay out of the market till the dust settles, one also can’t deny that it is times like these that bring opportunities. We decided to come up with a list of stocks that are expected to go up even in the existing gloomy environment.

To come up with the list of 10 stocks that Wall Street is bullish on, we looked at stocks that were recently upgraded by analysts and have performed well in the last 5 days of trading.

A team of bankers in suits, discussing the success of the company’s banking products.

Wells Fargo & Company (NYSE:WFC) 

Wells Fargo & Company is a financial services company. The company operates in Commercial Banking, Wealth and Investment Management, Consumer Banking and Lending, and Corporate and Investment Banking segments. The stock is down 11% in a month and investors are pounding on the opportunity, especially considering the 2.25% dividend yield.

WFC was also upgraded to Outperform from Sector Perform, mainly because of the recent dip in stock price. But that’s not all. The company’s $1.95 trillion asset cap, which was placed in 2018 by the Federal Reserve, is expected to be lifted soon as it has succeeded in satisfying the regulatory authorities. This could unlock greater profitability down the road:

“Once the asset cap is lifted, we believe WFC should be able to execute on its future growth plans to achieve its 15% ROATCE target, which should result in a higher valuation over time”

Overall, WFC ranks 2nd on our list of stocks that Wall Street is calling bullish amid market turmoil. While we acknowledge the potential of WFC as a leading investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as WFC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

Disclosure: None. This article is originally published at Insider Monkey.