An Upgraded Stock to Buy in July

Discussion in 'Trade Journals' started by finguy, Jul 14, 2021.

  1. finguy

    finguy New Member

    Jun 5, 2021
    Likes Received:
    Wells Fargo is finally positioned to turn the corner on a multiyear transformation story following its 2016 accounting fraud scandal.

    The company has an opportunity to lower its cost of equity closer to its banking peer group, which should lead to earnings multiple expansion. Wells Fargo recently passed its annual stress test and announced it is doubling its dividend and launching an $18 billion buyback program starting in the third quarter.

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