FTXO - 5 Things To Consider Ahead Of Wells Fargo's Q2 2024 Earnings

2024-07-07 09:00:51 ET

Summary

• Wells Fargo, which outperformed its peers, will report quarterly results on Friday before markets open.
• Wells Fargo stock traded in a narrow range between $57.00-$61.00, struggling to break above $60 despite strong stock grades.
• Last quarter (in Q1/2024), results met Wall Street estimates with strong earnings, lower credit losses, and net loan charge-offs.
• Second-quarter earnings forecast shows a consensus EPS of $1.28, with analysts raising estimates, giving WFC stock a revisions grade of B+.
• Breakout to $65 is discussed.

In the three months since it reported first-quarter results, Wells Fargo & Company ( WFC ) traded in a narrow range. WFC stock traded between $57.00 - $61.00, struggling to break out above $60. Despite a strong quant rating of 4.95 out of 5.0 , markets are looking for positive catalysts that would justify a rally....

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