UBS Hires $1 Billion Advisory Team from Bank of America's Merrill Lynch
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 15h ago
0mins
Source: Barron's
UBS Recruitment: UBS has hired a financial advisor team that previously managed $1 billion at Merrill.
Advisor Head Count: This recruitment indicates that UBS may be looking to counterbalance recent declines in its advisor head count with new hires this year.
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Analyst Views on WFC
Wall Street analysts forecast WFC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WFC is 98.66 USD with a low forecast of 74.00 USD and a high forecast of 113.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Analyst Rating
10 Buy
6 Hold
1 Sell
Moderate Buy
Current: 92.010
Low
74.00
Averages
98.66
High
113.00
Current: 92.010
Low
74.00
Averages
98.66
High
113.00
About WFC
Wells Fargo & Company is a financial services company. The Company provides a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, to individuals, businesses and institutions. The Company operates through four segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. The Company provides consumer financial products and services, including checking and savings accounts, credit and debit cards, and auto, residential mortgage, and small business lending. In addition, the Company offers financial planning, private banking, investment management, and fiduciary services. It also provides financial solutions to businesses through products and services including traditional commercial loans and lines of credit, letters of credit, asset-based lending and leasing, trade financing, treasury management, and investment banking services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Sector Pressure Intensifies: The sharp declines in shares of SaaS leaders like Microsoft, ServiceNow, and SAP after their earnings reports at the end of the month have also impacted Figma, indicating that the challenges are sector-wide rather than isolated to Figma.
- Analyst Rating Changes: Despite the pressure on Figma's stock, most Wall Street analysts maintain a bullish outlook, with Wells Fargo upgrading the stock to overweight, asserting that its leadership in product design and efficient growth merits a premium valuation.
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