Don't expect much more upside for Wells Fargo , according to Morgan Stanley. Analyst Betsy Graseck downgraded Wells to equal weight from overweight. Her price target of $95, up from $87, implies a gain of just 2.3% from Friday's close. With the removal of Wells Fargo's asset cap after seven years , catalysts for the stock are now scarce, she said. "We were OW Wells heading into the asset cap removal, viewing it as an underappreciated catalyst for faster EPS growth," the analyst said in a note to clients. Now, "we see more limited upside from here relative to our OW rated stocks." "We see the next meaningful catalyst event when the company will provide FY26 guidance in January, and we expect them to raise their ROTCE target from the current ~15%, but we think the market is also already larg

See Full Page