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Credit Suisse upgrades Wells Fargo to outperform# u' }( q/ a ]. |% {& L
3 W2 H: B5 E8 S& n( w- P4 gBy John Spence
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: ?0 U+ v( o2 a B5 M9 O% vBOSTON (MarketWatch) -- Credit Suisse analysts on Monday upgraded shares of Wells Fargo & Co. (WFC:Wells Fargo & Company2 D& l+ Q) E" @5 F" d: ]
WFC 28.62, -0.88, -3.0%) to outperform from neutral, but cut their price target on the stock to $38 from $40. After raising $11 billion through issuing common stock last week and capital injections from the government, Wells Fargo "has substantially improved its balance-sheet flexibility and potential earnings power to navigate a more severe economic downturn," Credit Suisse said in a note to clients. The analysts wrote Wells Fargo, which is in a deal to acquire Wachovia Corp.'s (WB:Wachovia Corp WB 5.48, -0.04, -0.7%) banking operations, has earnings diversity and more balance-sheet flexibility that favorably positions the company to produce "meaningful upside earnings surprise" in 2009 and 2010 "even against the backdrop of a worsening economic environment."6 G) Y: ^; ^8 I$ n) M# N7 S
! P. i5 |' e# U+ j# ]$ i! p; f根据这条新闻,是不是该买入了? |
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