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Credit Suisse upgrades Wells Fargo to outperform/ |5 |" n; x. Z" {1 v# W
& V$ L& G$ `1 R5 vBy John Spence8 |9 i* i9 n1 d3 e/ t, x
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BOSTON (MarketWatch) -- Credit Suisse analysts on Monday upgraded shares of Wells Fargo & Co. (WFC:Wells Fargo & Company7 B) q6 E# i5 R- Z: U
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."( Y. a8 P* {4 S H# w! M9 T }; x
, m: ^ K4 h( F; [根据这条新闻,是不是该买入了? |
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