JP Morgan lifts PT of Wells Fargo on net interest income growth optimism

JP Morgan raises PT on U.S. bank Wells Fargo WFC.N to $99 from $92

New PT implies a 2.7% upside to the stock's last close

Brokerage cites higher earnings visibility and faster‑than‑peers net interest income growth, supported by an expanding investment banking and trading franchise

Says price target reflects a Price‑to‑Tangible Book Value (P/TBV) multiple of about 1.9x of estimated 2027 TBV and a P/E multiple of 12.7x of estimated 2027 EPS

P/TBV tells investors how much they are paying for every dollar of a bank's tangible assets

15 of 25 brokerages rate the stock "buy" or "strong buy", 9 "hold" and 1 "strong sell"; median PT is $98 - data compiled by LSEG

In the last 12 months, WFC up 35.2%