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Don’t buy Wells Fargo’s stock at current prices, analyst says - MarketWatch

1. Wells Fargo stock downgraded by Raymond James from strong buy to market perform. 2. Analyst sees lower upside for Wells Fargo relative to peers amid recent gains. 3. Investor sentiment may shift towards regional banks over megabanks like Wells Fargo. 4. Wells Fargo shares have risen 19% YTD but competitors show higher gains. 5. Market analysts remain generally bullish, despite some downgrades on Wells Fargo.

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FAQ

Why Neutral?

The downgrade reflects limited upside potential against peers, but fundamentals remain strong.

How important is it?

The downgrade indicates potential volatility, though overall sentiment remains cautiously optimistic.

Why Short Term?

Current valuation pressure likely to continue as analysts assess regional versus megabank performance.

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