Wells Fargo stock shrugs off Baird downgrade as bulls point to earnings ahead
Wells Fargo shares edged up 0.1% to $96.50 Tuesday after Baird downgraded the stock to “underperform” with a $90 target, citing stretched valuation. Barclays raised its price target to $113 a day earlier. The stock hovered near a 52-week high ahead of fourth-quarter earnings due Jan. 14. Wells Fargo recently sold its rail leasing unit for $4.2 billion.