Morgan Stanley Raises Wells Fargo Price Target to $102

Morgan Stanley raised its price target on Wells Fargo & Company (NYSE:WFC) to $102 from $97, while maintaining an Equal Weight rating. The adjustment was made on June 29, 2026, following a 17% quarter-to-date rally in the banking sector.

Rating Change

• Previous Price Target: $97
• New Price Target: $102
• Rating: Equal Weight (unchanged)

Analyst Rationale

The analyst at Morgan Stanley believes Wells Fargo remains one of the most undervalued American stocks, even after the sector's strong performance. The price target increase reflects expectations of improved future earnings, but the Equal Weight rating suggests no clear outperformance over the sector.

Context

The revision comes amid positive momentum in the banking sector, which has risen 17% quarter-to-date. No conflicting analyst ratings have been issued so far. Wells Fargo (WFC) is listed among the 10 most undervalued American stocks.

What to Make of It

The price target hike reflects a cautiously positive view on Wells Fargo, but the maintained Equal Weight rating indicates the analyst does not see significant near-term outperformance relative to the sector.