Wells Fargo goes on quiet hiring spree to expand from lending. What it means for the stock
Written by Emily J. Thompson, Senior Investment Analyst
Source: CNBC
- Wells Fargo Expansion: The bank is expanding beyond lending into investment banking.
- Hiring Spree: Wells Fargo has been quietly hiring to increase its presence in the profitable investment banking sector.
- Competition with Wall Street Rivals: The move aims to compete with Wall Street firms that have traditionally dominated investment banking.
- Profitable Business Segment: Investment banking is seen as a lucrative area for Wells Fargo to grow its business.
- Strategic Shift: This hiring spree represents a strategic shift for Wells Fargo to capture a larger share of the investment banking market.
Analyst Views on ACI
Wall Street analysts forecast ACI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ACI is 22.27 USD with a low forecast of 17.00 USD and a high forecast of 29.00 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.
16 Analyst Rating
10 Buy
5 Hold
1 Sell
Moderate Buy
Current: 17.180
Low
17.00
Averages
22.27
High
29.00
Current: 17.180
Low
17.00
Averages
22.27
High
29.00
About ACI
Albertsons Companies, Inc. is a food and drug retailer in the United States. The Company is engaged in the operation of food and drug retail stores that offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel and other items and services in its stores or through digital channels. It operates approximately 2,257 retail stores with 1,720 in-store pharmacies, 405 associated fuel centers, 22 dedicated distribution centers and 19 manufacturing facilities. The Company operates stores across 35 states and the District of Columbia under 22 banners, including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, ACME, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci's Food Lovers Market. Its own brands include Signature SELECT, Open Nature, Lucerne, Waterfront BISTRO, Signature Reserve and Value Corner, among others.
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.
