Wells Fargo trims FICO's PT, sees limited risk from VantageScore

Wells Fargo cuts PT on credit scoring giant Fair Isaac Corp FICO.N to $2,300 from $2,500 which is still a 91.6% upside to the stock's last close

Brokerage cuts PT to reflect lower peer multiples

Wells Fargo sees minimal incentive for lenders to switch from FICO, even with VantageScore priced lower to increase score competition in the mortgage market

"We still see hurdles to avoid "cherry-picking", where lenders pull both a FICO and VS to only submit the more favorable one which reduces the reliability of the score" - Wells Fargo

15 of 22 analysts rate stock "strong buy" or "buy", six "hold" and one "sell"; their median PT is $1,983.5 - data compiled by LSEG

As of last close, stock down 29% YTD