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US : Wells Fargo & Company - WFC | Raising EPS Estimates for Lower Credit Costs; Reiterate Outperform

    Contributors
    Ken Kohut
    Daniel Tamayo
    CGS-CIMB
    15 January 2021
    Published byCGS-CIMB

    We reiterate our Outperform rating on WFC shares following its release of 4Q results. EPS beat and we raised our estimates for lower NCOs. While the stock underperformed on Friday due to a lower NII outlook and perhaps a longer time frame to achieve cost savings than some expected, we appreciate ma