Wells Fargo rises premarket after Fed lifts $1.95 trillion asset cap

Wells Fargo's shares WFC.N rise 4.1% to $78.90 in pre-market trading

U.S. Fed removed $1.95 trillion asset cap imposed in 2018 following years of missteps

Fed noted WFC had made "substantial progress" in addressing deficiencies

TD Cowen calls it a potential turning point in WFC’s growth trajectory

"We are far more excited about what this action could mean for longer-term revenue growth. As the bank steps into the ring with peer mega banks, we are watching closely for signs that this sleeping giant has awoken from its slumber," adds brokerage

"We've changed and simplified our business mix, transformed the management team" - WFC CEO Charlie Scharf

YTD, stock gains 7.7%, up to last close